It looks like ugly Diablo 2, that's about all I know. Maybe I'll check it out for the coop because I know at least one friend who is super excited for it, but it looks like a bad, unevolved DIablo game, and there's already a gorgeous and fresh, evolved Diablo game out right now, I dunno why I'd want Torchlight, save for if I was on the road a lot and needed something mobile.
What's up with the 360 crowd pimping Torchlight recently? Was there a sale or something? I had a good time with TL when it launched back in 2009, but I don't think it holds up well with more modern entries in the genre.