The first contender into the ring is Grim Dawn.
Currently being developed by Create Entertainment, they are marketing the game as the spiritual successor to Titan Quest, citing both technology and staff from it's creator Iron Lore. This is very visible in the videos of the game in action, the satisfying physics engine that sends your opponents flying with every heavy attack. The feature list reads like the game is the next iteration of Titan Quest which was a solid game with interesting dual class possibilities.
The developers are targeting a 2012 alpha release, and it looks like a game that is worth keeping an eye on. The game has a Kickstarter page and has already successfully passed it's funding target, but if you fancy donating in the next few days you can click this link.
Next up is Path of Exile.
Path of Exile is currently in a beta which you can sign up for on the game's website. It is being developed by New Zealand based Grinding Gear Games as a free to play online ARPG, supported by microtransactions which the devs are keen to point out will be aesthetic bonuses only; the best microtransaction policy from the point of view of a gamer.
The most notable feature of the game that sets it apart from the rest of the crowd is it's Final Fantasy X inspired passive skill tree which is gargantuan. It also has some interesting potion mechanics. Your character has various health and mana potions that provide a variety of bonus effects and will recharge over time when consumed. Hopefully it will see a release soon as it has been in development since 2006.
Mixing things up with a portable title, Heroes of Ruin.
Heroes of Ruin is being developed for the 3DS and as far as I know, will be the first Diablo like ARPG to reach a gaming console since Diablo on the PS1 (although the rumours for a console port of Diablo 3 are still doing the rounds). The game is being made by n-Space and is being published by Square Enix.
To stand out from the crowd the game will make use of the 3DS' SpotPass system to download new challenges on a daily basis and StreetPass to provide players with an item trading system. It also touts seamless drop in / drop out 4 person multiplayer. Available for pre-order, it currently looks like it will see a late June release.
Last, but not least, Torchlight 2.
It almost doesn't deserve a place on this list as it is mentioned in almost every discussion about Diablo 3. So I'll keep this super brief! If you haven't played the original it can often be found on discount and is great value for the money. Torchlight 2 is available for pre-order and on Steam you get the original as a bonus that can be gifted if you already own it.
