There's a big fat demo of Sacred 2 available now. It's a monster, coming in at 1.7GBs, and it's available from the usual hosts (Filefront and Fileshack, for instance). You can play a seraphim character up to level 10, although she can't venture out of the elven lands. But it's still plenty generous with the content. You'll get a sense after an hour or so whether you've got to have Sacred 2 when it comes out.

Based on my hour or so, Magic 8-Ball says "All signs point to yes". It's a bit clunky, like Diablo played in molasses and made by Germans (one of which is actually true). But once I started to puzzle out the skill system, I saw how this one is going to swallow huge swathes of time. The mapping system is really slick, and it looks like an open world more than a guided tour, which was one of my problems with Titan's Quest. At any rate, it's got a far better handle on how to do an action RPG than Space Siege and Too Human, which is what's passing for action RPGs these days.

Also, I honestly enjoyed the combination of terrible writing and terrible voice acting. Seraphim, you had me at "By my pinions!" (I had to look up what "pinions" were; just so you know, it's not dirty). But I was really hooked once she launched into the creature-specific trash talk, like "Don't get on my nerves, kobold" and "A small grave for a small kobold". Also endearing was the seraphim's choice of footwear in the screenshot below:

I've zoomed in here:
Now that's my kind of seraphim. You go, girl! Although I can't find an official announcement, the word right now is that the PC version should be out in November, with Xbox 360 and Playstation 3 versions early next year.