To add to Mofimadness' post, you can easily transform these into a pair of Model two's as you suggest by removing the panels and cutting the frame down. I would suggest two things:
1) Cut the frames to about 60" tall and re-mount two panels in each frame near the top. You want the panels to be about 12" off the floor for most rooms. Of course it would be easy to experiment and well worth it.
2) Inside the interface, you'll see a terminal strip with a wire clip. This is the input the the bass transformer. You need to move the wire clip the the correct transformer tap for a two-panel speaker. You want the Red wire. There are three - Yellow is for 4-panel speakers (Model 4 or 2+2), Orange is for 3-panel speakers (Model 3), and Red is for 2-panel speakers (Model 2 or 1+1).
Also if you can do some more frame construction you may want to consider putting together a set of threes (three panels side-by-side) and using the orange tap. IMO, it is better to go wider with Acoustats before going taller - I very much prefer the sound of threes to 2+2s. Better yet, make some fours if your room is wide enough!
Good luck with your project.