iTunes will keep only the last two episodes.
I don't know whether it will take any notice of whether you have listened to them or nor.
There is a setting to keep only those episodes that you have NOT listened to yet
Under settings on the podcast menu in iTunes, I've set the "Keep" pull down menu to "Most recent episode". Will this make iTunes delete an old downloaded episode as soon as a new one comes in?
I don't where iTunes keeps the downloaded podcasts and I don't want them building up and eatting HD space. Thanks : )