Luisfius: Torchlight 1 was a flawed but good diablo 1 clone.
Torchlight 2 is the best diablolike since diablo 2, it has multiplayer that is awesome, it has some pretty unique classes, and it is amazingly charming. It is an improvement in every way, except that the mod toolkit is not released yet.
Small correction: second best, Titan Quest still holds the crown for this one, if only by a hair. In TL2's favor, they are still adding content. New quests showed up in my last patch.
Xoanon: It is 25% off until Nov. 27.
langurmonkey: That is why I created this thread. :)
I don't know what kind of cash reserves you have, but 15 bucks is a no brainer for this one. You have the addition of co-op play and whatever comes out of the fan made stuff when the toolset gets released. As an example, in TL one player found an entire unfinished map and boss and finished it. Another one added a whole new robot class which impressed the hell out of the dev team.
Hell, if you genuinely cannot afford it, let me know and I'll make sure you can.
I have a slight beef with stat allocation for the Outlander class, but it's something I think patching and mods will fix. I also have a slight beef with key binding, this one is less forgiveable, but I guess as it goes it's not the worst thing I've suffered in a game.