I would recommend Dungeon Siege III as well. I currently own it and it is a great game. You can get it for $40 now, I got it on day 1. The downside about the game is the unique MP. When you are host, ppl can join your game but will be forced to play on your progress and you cannot be the same character. If you decide to join someone else's game you will jump into their progress and chars. So in a nutshell you cannot take your progress, characters, or loot with you when you play with others. The host has the ultimate power.
Another game you may want to look at is Sacred 2: Fallen Angel. Similar to DH:A and some even call it a diablo clone for the console. I agree and it also reminds me of Champions: Return to Arms for the PS2. It is a great game but again be warned for the developer, Ascaron broke up, so the game does not recevie any more updates and the game is still quite buggy. There are ways to enjoy the game without the bugs and with a level cap of 200 I enjoy the game a lot.