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Runic Games announced at the Penny Arcade Expo today that Torchlight is slated for an October 27th launch, with Perfect World as the game's publisher. Torchlight will be a fully downloadable game, sold at $19.99. Massively had a look at Torchlight at E3 2009 and noted the game is influenced by titles like Diablo and Fate, which should come as little surprise given that the Runic Games is headed up by CEO Max Schaefer (co-designer of Diablo) and President Travis Baldree (designer of Fate).
Runic Games now has a "Meet the NPCs of Torchlight" page up on the game's official site and will be giving fans an early peek at the game at PAX 2009. For the rest of us who can't be there, they'll also be on Twitter with updates from the expo.