Games pretty decent. Obviously going to get compared to D3, might as well get that out of the way.
I like the way stat allocation is handled, which is basically D2, I think it shines when combined with the item requirements being level OR stat. Not sold on the skill system, I like the idea of passives and having 15 points per skill, but it seems a little bit shallow (I'd compare it to pre-1.10 D2). Some people think there won't be any cookie cutter builds, but there's definitely going to be an optimal build that people will be using for harder difficulties, it's inevitable in these games. I feel like they give you very little incentive to invest points in more than one tree (this is on the engineer, maybe other classes are a bit different).
The pets handy and is a good way of keeping the pace up.
I would have liked to see them do away with scrolls of TP/Identification. Maybe put a small cooldown on pots and give you regen/something similar to the D3 health globes.
The itemization seems pretty solid, I really like the idea of having level OR stat requirements. Definitely a plus. Hard to judge the items themselves since I'm not near endgame yet, but I will say that unique drops seem almost too frequent, I guess eventually you won't be caring about uniques and just certain uniques, but it kind of diminishes the value of them early on. Maybe it just feels that way because D3 had so little early on, and this is obviously a more compact experience.
Musics great, D2 feel.
Gameplay wise it's good, but it just feels way looser than D3. Combat doesn't give the feedback that a D2/D3 would. Everything from knowing you hit something, crit something, knockback. It just feels off. Not horrible by any means, though.
Presentation wise it has a certain charm to it. But obviously the art direction/overall package is what you'd expect of a $20 game. Hard to expect a studio like that to compete with Blizzards art team though.
It needs a closed online system, badly. One without mods (or at least item/stat modifying ones) and some trade system.
Overall it's solid, especially for $20. Ultimately I'll end up back on D3, which in its current state just seems to have more longevity, and is a better experience in terms of gameplay and presentation (besides music). But there's certain elements from TL2 that I wouldn't mind seeing in D3. If someone said they had a weekend to play either, I'd say TL2. If someone asked me for one that'll last a while...I'd say D3.