Torchlight is coming to Xbox Live Arcade for the upcoming House Party series of releases. The game has apparently been remade to use the Xbox controller (with dual sticks for moving and attacking, bumpers for potions, and hotkeys assigned to triggers and buttons), and given a new interface for the console release. There will also be "new quests, armor sets, weapons, and a new pet" to play with as well. Consider us surprised -- it'll be interesting to see how a very PC title (that's found a lot of success on Steam) fits into Microsoft's arcade lineup.
The House Party will start on February 16, and will also include a release of the Beyond Good and Evil HD remake, Hard Corps Uprising, PopCap's Bejeweled Blitz Live, and Full House Poker. That's a quality lineup right there!