"So... where is Torchlight 2? Didn't you guys say that you were planning to try to release this year?"

Well, yeah. We did - and we made a good run at that. We've come to the realization, however, that getting a game of this scope up to the quality and polish level we want to achieve is going to take a little longer; especially since we want to run a small beta before release to ensure that our launch is smooth.

The first Torchlight was released in record time, but it had plenty of issues that a little more development could have resolved. We didn't have the resources at the time to give Torchlight that treatment. Right at this moment though, we do have those resources for the sequel, and we feel strongly that we should apply them to make this the best game we can make and hopefully one that you'll enjoy and continue to want to play in the future. We've probably had 18 months of full development time on it so far - not excessively long yet, as far as that goes. The amount of time we need to take it the rest of the way is relatively small.

We feel pretty safe in saying that if you enjoyed Torchlight at all, this sequel is superior in every respect. Right now our job is to ensure that the quality level is consistent all the way to the end.
Besides, you're all playing Skyrim right now anyway, aren't you? Or Battlefield 3? Or Uncharted 3? Or Saints Row 3? Or Arkham City? Or Skyward Sword? Or Minecraft? Or Modern Warfare 3? Or Dark Souls? Or Assassin's Creed Revelations?

Those are awesome games. When Torchlight 2 goes live, we want it to be awesome too - all the way through.