So I picked up Torchlight 2 over the weekend, and I'm having a blast playing the game. It feels like an upgraded version of Diablo 2 - fast paced, fun, slightly silly, and did I mention fun? I've only gotten to the second act after trying out several different characters and I've really enjoyed some of the little things that have popped up that set it apart from Diablo 3. I don't feel like I'm grinding away just trying to reach the hardest level and insanely nerfed drop rates. I don't have to log into battle.net to play. I can download a mod and play the game with it and not get banned. Many more "I cans" in Torchlight than with Diablo. I'm having a blast as a mage running around with a shotgun - just because I *can*. There seem to be more viable builds (but I've just scratched the surface) in general and more fun builds in particular. There are little hidden areas all over the place that are neat to find. Plus I've already run into a Goonies & Silence of the Lambs reference. Lastly at only $20, its definitely worth it if you liked Diablo 2 and aren't keen on Diablo 3.
I bought Torchlight 1 and had a great time with it. I plan on picking up 2 when I finally get some time - hopefully during the Christmas season.
No, I haven't played the first one either. Its your standard "bad guy does bad thing" and you have to follow him trying to get ahead of him to keep him from doing more bad things. As far as I can tell, the setting for the first game was completely destroyed in the prologue. There are bunches of little side-questy things that help enhance the feel of the world, but it certainly isn't some sort of big open-world RPG. Kill Stuff -> Get Loot -> Get Powers -> Kill Tougher Stuff But the storyline is interesting enough and I have a giant pet spider named Shelob following me around summoning skeletons and zombies for me, that just makes me happy.