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First gameplay video is up on the Torchlight II website and youtube.
Looking good, all Torchlight really needed was more spacious and outdoor areas, and of course multiplayer. I've got to say, if they can get the multiplay right for Torchlight II, Diablo III just might have some serious competition. Perhaps not in box sales, but in general fun factor....who knows, I guess it's still too early to tell.
2011 could be a pretty interresting year for us hack 'n' slash ARPG fans, assuming Diablo III releases next year of course.