Its Diablo III. I feel sorry for anyone that believed different. After the Starcraft 2 announcement in Korea, I gave up all faith that Blizzard was out to shock anyone with their future games. Blizzard will stick to their IPs and make really good games with them.
Diablo III is hack and slash. Really good looking hack and slash. The classes look fun and insanely overpowered, which goes a long way towards making hack and slash something players can enjoy for more than a couple hours.
I'm really on the fence with Diablo III. I know it will be a good game and fun, but is it worth my time? I've tried enough mediocre hack and slash games over the years, avoided Diablo II due to Diablo I burnout, and with little time to play, I don't know what to think of Diablo III.
The one thing that I am curious about is what everyone else thinks. How long can Blizzard live off of these franchises if all we're going to get is well done updates? The last big move, going from RTS to MMO with World of Warcraft, by Blizzard came at the hands of the old-school designers which have long ago left the company.
Don't get me wrong. Blizzard makes great games and I enjoy most of them, but I just wish they could take that great development process and put into something new and a bit more exciting than another Diablo.