I'm so impressed with Torchlight. Learn more about the game at the official site, then grab the substantial demo on Steam. Torchlight was developed by a bunch of action RPG vets, and it shows. These guys worked on Diablo and Diablo II, Fate, and another one called Mythos. (I'm not familiar with the last one, but I did play Fate and I thought it was a lot of fun, if not a bit soft and repetitive.) Torchlight takes everything you love about the action RPG, distills it down to its bare essence, and adds a fine coat of polish. (Players of Fate will recognize the clever pet system.) Gorgeous art direction and great UI, fluid animation and pitch-perfect music, sharp writing and world building...the game is firing on all cylinders. Well, the only false note is the voice acting, which is pretty darn wince-inducing at times. But nobody's perfect, right? Bottom line is, the game looks and plays great. I just adore the art style!! And the "cinematic pause" feature is fucking brilliant. Everyone should have that.
For game development nerds, the YouTube "dev diary" clips are interesting. Remember: tools, tools, tools!