Hellgate showed how well this gameplay formula can work with a different perspective.

I wouldn't say it was necessarily "better" - but it was definitely a much more engaging and visceral experience in terms of combat.

I don't think it would work quite as well in a pure fantasy game, where ranged combat is less common. But the "over-the-shoulder-view" worked very well also.

D3 IS conservative in some ways, and I think it's a legitimate observation.