Torchlight II has been pushed back to 2012. Travis Baldree, Co-Founder of Runic Games penned a blog post today describing the situation.
“So… where is Torchlight 2? Didn’t you guys say that you were planning to try to release this year?” He adds, “Well, yeah. We did – and we made a good run at that. We’ve come to the realization, however, that getting a game of this scope up to the quality and polish level we want to achieve is going to take a little longer; especially since we want to run a small beta before release to ensure that our launch is smooth.”
Unlike their predecessor they now have the manpower to make sure the game is released almost bug-free.
“We feel pretty safe in saying that if you enjoyed Torchlight at all, this sequel is superior in every respect. Right now our job is to ensure that the quality level is consistent all the way to the end.”
Source: Torchlight II Blog