The game looks great, however, I have been unable to get an answer from the Torchlight staff if this game will have DRM or not.
It seems that it will carry limited activations and be on Steam, but it is still unknown if the boxed version will have DRM or not.
This one fact has caused me to doubt the developers and doubt if I will ever play this game or not since they seem resistant to simply answer the DRM question.

So... they made Diablo and got famous, quit Blizzard, started Flagship, flopped heavily with Hellgate, then thought they would do better as they started over with yet another game and company name?

Obviously YOU won't fall for it.

I have no idea, haven't tried the game yet (and to be honest, I've only heard failure stories about Hellgate, didn't actually play that one either). It sounds suspicious, but it does pique my interest, and I will most probably try it out at least.
So yeah, wether I fall for it or not depends on my impressions of a demo - or a low price.

That's exactly what it looks like to me. But it's only fair to point out that Hellgate failed mainly because EA didn't give it the time it needed. Although it's not like the guys behind it weren't already notorious for missing deadlines...
Still, we can only hope that this time around they'll be releasing a polished final product.

Shareware.

This is the distro:
Runic Direct: Torchlight Demo with around 10 unlocks via serial code. Dev Tools along side separate download. Majority of money goes directly to Runic Games. Activation DRM
Steam: Will release just the game with Dev tools coming as a separate download and later packaged with Torchlight (like ut3 did) Steam DRM (pre-order is being worked on as of Fri Jun 05, 2009 7:21 pm by Steam officials, so soon hopefully)
Retail: In January, no DRM all tools bundled. Lifetime install as many computer as you want.
Any other option is currently unknown.
And To clarify further this was the Myhtos team not the Hellgate team, they were 2 separate entities. Additionally there the true brains behind Fate are there with some amazing concepts which really differentiate this from other dungeon crawlers. (There are some cross over but mainly Mythos guys... heh they still have Mythos posters up all over the office)
And for the Titans Quest statements, that company has split. With the lead Artists and world designer forging Crate Entertainment. that is making Grim Dawn, an ARPG with all the tools and engine of Titans Quest:IT that have been enhanced and greatly improved. That titles is coming in about 12 more months as stated by one of the developers. As a note Crates team is smaller than Runics so the scope of Grim Dawn will also be smaller.
PrEditor is the reason for buying this game. full complete and total control. Add new classes, monster pets, change anything make a new game. The entire core of it exists in PrEditor and its free with the game. You have everything they used to make it. See Example here 1 of 3 it is truly the most powerful game creation/editing tool Ive seen that's beyond easy to use edit and play all in the same program. The ability to render and play the game on the fly from PrEditor and just back out to script window is amazing. (Now Called TorchED)
Attached is the game running in steam client using friends overlay from the developers. Just because.... its METAL and thats how i roll....

See, the issue there is, there is no real answer.
Runic says; "Yeah, we may not do DRM AT ALL for Box."
The word that gives no concise answer is may. It may have DRM it may not have DRM there is no knowing, and Runic is not saying even though I have asked several times.
Great customer care for sure, or I am asking such a bad question that they refuse to answer.

Maybe they don't actually know themselfs yet if they will put DRM on the retail copy. Wait until its much closer to actually coming out and then ask them again.

But that's next next week! How can not have planned it already?

The digital release is the 27th of october, the retail copy isn't actually coming out until January 2010.
Edited correct date in.

The 27th is not next week, so unless they've moved the release date forward...

I said next next week.

And I wasn't talking to you =P

Ehh I didn't know when the digital release was, I was just going off of michaelleung. I only knew the retail version wasn't coming out until sometime in january 2010.