We didn't get to see any Torchlight II from our G-bomb guys this E3(that I could tell), but that doesn't mean it wasn't there. Other smaller sites took a look at the co-op in the game, and the link to Co-Optimus is one such take. In short, the game sounds awesome. Bigger, more open world, with open areas between dungeons, and weather effects for more atmosphere. Cinematics and more dramatic music, giving overall bigger and better production values. 4 NEW character classes that can be played as male or female. They're claiming way more highend loot sets than Torchlight :))). As of now the team is saying 8 player co-op. Host can change that. There's going to be full mod support at point of launch, so i guess that must be why they are offering the mp as the "Wild West' or 'Standard' modes. Hell it's all in the article. Check it out:
Oh and it sounds like pc first this July.