Torchlight - PAX Hands-on @ Joystiq
Joystiq has some hands-on impressions of Travis Baldree's Torchlight from PAX that also includes a trailer and some concept art. Here's a snip:
Initially, you enter dungeons near the town of Torchlight and quickly pick up different quests. We were set off in search of someone who had wandered into the dungeons -- how foolish! Controls are simple to grasp, making it easy to engage foes, blast off spells, gather loot and explore the dungeon. What makes it so much fun is the whimsical design. The cartoon style really doesn't seem like an art direction you'd choose for a hack 'n' slash RPG, but the entire world has a fantastic look and feel. At one point, our Alchemist went to open a chest, and it tried to bite him. It then sprouted legs and ran around before we finally took it out with a spell. Apparently, those are called "Mimics" and will appear throughout the game.
Thanks leth and ActionTrip.