Gameplay-wise, it was decent... a nice dose of Diablo-style nostalgia.
Not all is well under the hood, however. The code runs extra sloppy... C++ runtime errors regularly, and _save_file_overwrite_ bugs. Nothing will chill you to a game quite as fast as losing several hours of progress (or the entire character) to a bug they don't seem to care about fixing. Yes, I know, faithfully backing up manually would solve that.... _but_I_shouldn't_have_to_.
I paid for Torchlight, and I feel like I got fleeced. Candy coated shovelware.