It's not a bad game, but liking previous Obsidian games bears no meaning here. The game is a pretty straightforward hack'n'slash action RPG. It's not particularly great, deep or long, but it's not terrible. However, there's a distinct lack of usual Obsidian features like a good plot, cool mechanics and such. In the game's defense, it is quite bug-free, which is a major accomplishment for Obsidian.
All in all, if you can get it for cheap and you feel like playing something vaguely Diablo-like, go for it. But don't expect much.