From the defunct Flagship Studios comes a new developer comprised of the original Diablo veterans called Runic Games and they’re armed with a new title. The new game is going to be an action MMO called Torchlight. The idea is to go back to the old Diablo roots and focus on the action while connecting players together to mow down tons of enemies.

Max and Erich Schaefer, the fathers of Diablo and Blizzard North, are setting out to wipe the failed Hellgate London off its record by providing a more grassroots Diablo type experience. “Adventurers set out from the town of Torchlight into the nearby mountains in search of the magic ore that imbues their equipment with power, yet imperils their very existence.”

The most interesting news is that the new game will be exclusively published by free-to-play Chinese MMO guru, Perfect World. We wonder if that means Torchlight will be free-to-play and supported by micro-transactions like the other Perfect World games. Guess we’ll have to wait and find out.