I love hack and slashes, and this is definitely a game I love.
Most of this game is going to be dungeon crawling, looting, and lots and lots of monsters. The action lulls every few minutes, enough time to pick up everything that's dropped recently, and then goes right back into the action. One thing I was happy about, albeit I'm a huge Diablo fan, were the amount of "named mobs" there were; Sometimes 3-4 in a single room.
The only complaint about this game for me, is that it IS from 2009. Keep this in mind when it comes to game breaking and changing mechanics. It really dosen't have any of those. But it doesn't have a lot of mindless action/rpg fun.
If anything, let this get you ready for Torchlight 2. :)