Everything I knew it would be!!
On the cons side of things, the graphics could have been upped a bit more with a little more grit. I know that isn't the style of torchlight, but for the increase in system requirements from the first one I would have expected a little more texture detail. Also, I am finding that the dungeons are far more 3d than in the first one which puts me behind walls a little too often. When being attacked by large hordes of monsters it can be a little confusing when all you see is a mass of blue figures moving around. While I am enjoying the skills, I would have liked to see some synergy between skills as they did in later Diablo 2 patches. Hopefully at some point runic will have the resources to handle some pvp element...though I'm not holding my breath for that.
All in all, Torchlight 2 is a triumph for Blizzard North...er...I mean Runic Games. May their particular brand of addiction continue on for years and years to come!