Runic Games has just announced the new price point for Torchlight 2 at the budget awesome price of $20, with CEO Max Schaefer stating:
Everyone who wants to play Torchlight 2 will be able to comfortably afford to do so, and they'll be able to play with their friend online or via a LAN, or play single player offline, all with no further purchase.
As the obvious underdog, Torchlight 2 is facing an uphill battle against Diablo III, though it already has a leg up for not having a real-money auction house, an offline mode, and the user-friendly ability to mod the game pretty much however players want. The $20 only helps tilt the scale in their favor when Torchlight 2 release some time during the holiday season.
[Source]