A "spirital successor to Titan Quest" built upon its engine and titled Grim Dawn is in development at Crate Entertainment--founded by veterans of the action RPG's defunct developer Iron Lore--funded by pre-orders, Blue's News brings to our attention.
Set in a fantasy world influenced by the Victorian era, Grim Dawn is describe by Crate as "a spiritual successor to Titan Quest and proud Diablo-clone" toting 200 character levels, crafting blueprints, multiplayer and a "refined loot system" dropping "less junk."
Hoping to keep Grim Dawn privately-funded, Crate is already accepting pre-orders, with packages ranging from a $20 'Normal Edition' which simply gives a copy of the game upon release and "knowing you made the world a little better" to a $48 'Legendary Fan Edition' granting alpha and beta access, an in-game item and a place in the credits.
Grim Dawn is slated for a downloadable release on PC in "early 2011" for $20. The Iron Lore game-in-progress 'Black Legion' that Crate purchased but had difficulty finding a publisher for is seemingly no-longer on the cards, as Grim Dawn is a separate project.