Wow, you were much more impressed with D3 beta (demo) than I was. The graphics were terrible, and I hate the always on line requirement. I am not trying to criticize you, but a legitimate question: Other than the possible lore from the first games, what did you find outstanding about the beta? I dont know, maybe I missed something. I will admit that I only play single player, so maybe the game is more attractive if you are interested in multiplayer.
		
		
	 
What I found "outstanding" is that it feels exactly like Diablo II, despite a decade gap, perhaps a new team, and the trend of consolitis in almost every so called "PC" games released since the past couple of years. That's not to say that D3 cannot be played on a console (maybe it was made for them to start with who knows), but Blizzard managed to keep the feel from D2 almost intact, some things changed (I will adapt over time, the "changes" aren't a big deal to me, one of which is the "change" in the skills system, so far it's alright, nothing "bad", just different). It plays almost exactly like D2 used to. I didn't want D3 to turn into something that it shouldn't have been. A Diablo game should remain action-RPG, with minimal amounts of dialog, story and lore, just enough to keep the grind interesting. No one should play D2 or D3 if they want a story-driven game, that would be suicide. To me it'd be like playing a racing game and expecting a good story out of it. It's supposed to be action-packed, fast-paced and require near to no thinking to get through the mobs, or the Acts to reach the story and complete it.
I'm just happy that D3 remained a Diablo game, that's the gist of it.
Additionally, the features I actually prefer in D3 over D2 are:
º Players-specific loot table in multi-player, no more leeching or "stealing" or joining populated games for the purpose of exploiting the extra potential drops to run at them with a pick-up bot that no one can beat unless you have one too and get in range first. Really, greed was obliged and forced in D2, it wasn't a multi-player game with strangers, it was a greed fest with minimal civility and honesty. First arrived, first served. In D3, the multi-player is going to be multi-player in sense that you play WITH players and CO-operate with them for the goal of beating mobs, for the sake of the beating them faster and more efficiently, rather that playing "with" people to end up racing first to dropped items on the ground or from boss runs. That D3 feature 
alone convinces me to buy the game, and will be a great incentive to actually open my own games for the public for others to join in to actually 
play the game with them.
º Hirelings system is much improved, and they exchange thoughts with the player character, talking about the map they're in, the situation, the mobs around them. A few bits of lore and story regarding the region or Act is being given in the form of conversations that aren't too long to be a distraction nor an annoyance, and just direct-to-the-point enough to "get" the story or the Hireling's points of views regarding the current events in Sanctuary as the game is being played. No need to pause, stop or click on them to initiate their conversations, it's dynamic, you play, they say something, you keep bashing mobs, nothing stops your experience. That's of course compared to D2's bland (not saying "useless", just bland) hirelings doing... their stuff, as expected. It was fine (in D2) back then, of course, but the added complexity and "life" to them in D3 is a welcomed addition that doesn't "remove" anything from the actual game-play nor the fun coming out of it. Worst case scenario some people will ask Blizzard to have an option to mute their hirelings (and maybe it's there already and I just haven't noticed).
º In-game auction house. Regardless of the "real money"-related controversy, having an official Blizzard/Activision-supported and monitored in-game auction house will finally allow players to NOT have to rely on third-party web-sites or sellers to find/buy, sell/exchange items (goodbye D2JSP and scamming sellers). You don't "have to" use the real money portion of the auction house. It doesn't mean that every single items will be available by in-game gold purchases, who knows maybe some people with given options will "force" selling some items only from real money transactions. If that's the case you know what you can do? You can ignore those, that's right, you can do that. You can also go play the game yourself and have the satisfaction to find items yourself, yep, that's also possible.
º Graphics, music, environment, sounds, etc. All the game's assets in D3 are top quality and very polished. After some time following its release we can only expect more content, maybe one or two extra class, a new Act, or maybe two. I fully expect a similar progression over time to that of D2 Classic and Lord of Destruction. I like the graphics, yes, too bad for those who don't like them. Maybe they should go play Sacred 2, or that spiritual successor to Titan Quest which I'm forgetting the name of. The thing is, if you don't want to play D3 due to the graphics only, then fine I guess? There's very little I could do about it, and I wouldn't do anything about it even if I could. I mean... it's a question of personal preferences, if you don't like D3 graphics then fine. Anyway, I'll buy it, I'll play it and then enjoy it regardless of the graphics, but I just happen to like them. I've played D2 for... approximately seven years or so, but the game is still great even today since the game-play is great, although the graphics suck by now, do they? Wait, no they don't, well I don't think so, but some think they do, it's very subjective. Some people still play their NES games, some people can't stand anything else than a heavily modified Crysis or Skyrim or can't do anything else than benchmarking or running stress tests for their GPUs. To each their own.
And more...
I only played the open beta indeed, and leveled all classes to Level 13. Finishing the beta just one time already convinced me. But I tried more, and each time I was still convinced I wanted it. To be honest lately I haven't found any good "action RPG fix", and I've completed the original Torchlight a long time ago. It got boring fast as well, although I did appreciate it, and I adore the music (more than the actual game really). I'm sure that Torchlight 2 will be better than the first, mostly of course due to its multi-player mode, but also the game might be lengthier, more complex, with a more fleshed-out story, new and more varied animations, more items (that's guaranteed), more randomization (maybe), etc. 
I'm NOT saying (saying this just in case) that Torchlight 2 is anywhere near "worthless", or anything like that. But basically, for me, it's obscured by D3's shadow, and I'm not exactly going to try "saving" Torchlight 2 out of it to let it see the light of my wallet. I'm going to buy D3 simply because I chose to play that one, because I've been convinced by the open beta, which is what I was waiting for (to have a taste of it myself other than watching videos on YouTube since the past two years). I can totally understand why some people wouldn't like D3, believe me, I'm going to say this right now, it's not for everyone. If you don't like grinding, if you prefer "better graphics", or a lengthy "campaign" in a similar game, etc, then there's other such games around, some are older, some of those are "dead" (devs gone, multi-player mode basically inactive due to age or devs going poof eventually), but they exist and you can still play them if you want. Or, of course, you can buy Torchlight 2 and ending up enjoying it at $20, rather than paying $60 for D3. That's certainly understandable. As for the "always on-line" stuff, I'll be honest, I used to complain about that... around... two years ago or so. But my computer is basically always on-line anyway unless it's turned off when I'm not home. When I play on-line games that do have a single-player mode, my PC is on-line. When I want to play a single-player game (only SP) then I can of course play them but my PC is still on-line anyway, even if my browser isn't opened and I happen to play something like Beyond Good and Evil from my GoG.com collection.
I don't care anymore about being on-line or not. I WOULD be pissed, yes, if say... Steam wouldn't launch and I wouldn't be able to play any of my Steam games off-line. But the thing is it doesn't screw up anymore like it used to many years ago. If Valve's servers go kaput for a day, my Steam will launch in off-line mode and I'll be able to play my off-line single-player games from my Steam library anyway. So, yeah, for me the whole "it's always on-line I won't buy it" stuff doesn't apply to me anymore. Good for those choosing not to buy it because of that or by doing so expressing their disagreement to Blizzard, to each their own. I don't mind nor care about what others will do regarding this subject, all I know is that I for one cannot feasibly care. 
Let's keep something in mind though, regarding D3, one of the reasons as to why it's always on-line even if the game you create is only for you and you don't want to play with others, is probably for security-related reasons. It might be easier for Blizzard to log, keep track of and monitor what's going on with bots, map hacks, scripts and so on if everyone playing is on-line. I'm not saying that it's actually the case, but if there's that kind of mentality behind their decision, then I fully approve it. I have nothing to hide, I'll be a legitimate player, so if anyone can get caught due to such a system, good, one less idiot to deal with.
So yeah, all of this and a bit more, will make me buy D3, yep. Anyway, best of luck for Torchlight 2 and the devs. I sincerely believe that they deserve the recognition and appreciation from their existing fans and new comers alike. It will please a specific crowd and I'm not saying it's going to "fail" per se, but releasing it now that D3 is almost final is... unwise, in my opinion (maybe they had no choice, I don't know, I'm just saying... it's a very bad coincidence... if it is a coincidence, to release it at this time).