Unfortunately, Torchlight 2 won't be releasing in 2011 as scheduled. Runic Games co-founder Travis Baldree explains Torchlight 2 is being delayed in order to give the game some needed polish.
Baldree did not announce a new release date for Torchlight 2 but he says development time will only "take a little longer". The delay will also give Runic Games a chance to run their planned beta test before launch to make sure things are running smoothly.
In the meantime, Baldree recommends playing games that are more deserving of your attention, like Skyrim and Battlefield 3. Sounds like a good idea to us.