It's a tough day for Torchlight II crew. Unless you REALLY hate online DRM and lack of LAN play, or just don't want to pay 60USD for a game, Diablo III sell, more or less, the same product you are selling.
I tried the 1st Torchlight, finished it and was done with it. I disliked the loot system and how off targeting enemies were, specially the small ones. I decided to re-install Diablo 2 and had a blast, giant pixels be damned.
There were good things on Torclight II though, like the modding. But I simply had more fun with Diablo 2.
There is hope, still. Maybe D3 will be horrible and Torchlight II will be awesome but if the games are remotely even, Blizzard have at least a good lead start. It's not to say Torchlight II is bad, but I fear Diablo III will be, simply, better.