"Well, I'm sure you've noticed Diablo has announced a date. So, we don't want to fall right on that," Schaefer said when we met at PAX East today. "The real answer is when [Torchlight 2] is finished, is Diablo 3 right now [owning the conversation]? Then we'll wait."
Schaefer said the launch date will "ideally" be shortly after the one occupied by Diablo -- and optimistically it'll be a month later. He noted that Runic isn't going to rush to beat Blizzard, however. With the two products selling alongside one another, he feels it's best to polish the game as much as possible. He doesn't want to be the "cheap" alternative, simply the less expensive one at a $20 price. He also noted the game would have an offline mode, modding, LAN support, and that its pacing would separate it from the competition.
Does he have something to communicate directly to fans waiting for Torchlight 2?
"Be patient. Our total development time on this game is going to be about two years, which is not unreasonably long for this type of game. We're going as fast as we can. It'll be worth the wait, it'll totally be worth the wait. In the long run, people will be happy we took this extra time."