Blizzard hasn't given up hope on bringing Diablo III to consoles. The developer has the game running on this hardware internally, although public release still hangs in the balance.
"We’ve got builds up and running on it. We’re hoping to get it far enough along where we can make it an official project, but we’re not quite ready to release stuff about it, but it’s looking pretty cool."
Plans for an expansion were also mentioned, but no date was confirmed.