According to Baldree, “The end of summer is September 25th or something like that, right? We’re still trying to get it done for summer. It’s a big game and we’ve still got some polish to go.”
(In reality, the end of Summer is the 22nd September.)
Baldree also released a “Many folks are anxious to see the game released – many have preordered, and want a date! We’ve been deliberately vague on this point. My hope is that if I give you an idea of what we’re doing, what it takes to do it, and the scale of it, it will make it apparent why that is.”touching on the subject, reading,
It'll be interesting to see how an action-RPG like Torchlight II fares with online co-op but offline single-player as well, in light of Diablo III's travails.