As a fan of ARPGs, in my opinion, the genre it's kinda lacking. Now, i'm more focused on modern ARPGs, as i think the general gameplay it's much more improved than the previous ones.
Diablo 1 - It was ok back in the days, but it's hard to compare it with modern ones now. Especially regarding character movement, pathfinding, things are much more smoother on modern ARPGs.
Diablo 2 - Better than Diablo 1, still playable this days, but same as Diablo 1. Compared with modern ARPGs, the movement and pathfinding are inferior.
Diablo 3 - Things went crazy with this one. The direction of where first Diablos were going was shifted. Great, smooth game, but does not offer too much depth. It's a dumbed-down RPG, and i'm not saying it as a negative thing. Somethimes you want a mindless game that would just keep you busy.
Torchlight 1 - I never liked this one. I always felt that it's lacking personality, even if devs did whatever they could to make the game unique, especially on aesthetics.
Torchlight 2 - This is the game that really shines in my eyes. Much better than Torchlight 1, and pretty similar to Diablo 3. But some odd design choices makes me pick Diablo 3 over this one. The way that the zone resets work, the single-player campaign being kinda poorly tailored, as you feel the need to go back grinding some XP from time to time.
Path of Exile - in a league of it's own. It's not so accessible as others are though. I have few hundreds hours in that game, as i played a lot about a year ago. But when i tried to get into the game again recently, i pretty much had to start over and re-learn the game, as it was pretty changed. I respect GGG for their involvement in this game and for their true F2P model, but, in this kind of game, a lot of adjustments of the content, in relatively short time, mess things up for some people. It's the kind of game that you would like to get into if you already have a bunch of friends that are already playing it, so they can help you out. The character development it's very hard, with the crazy skill tree. You can basically mess up your character to a state that you can't progress into the game anymore, so you need to start it all over, but you can also find a fun build that you just love it, just to become nerfed and useless in next patch. A balance between complexity and consistency it's not reached. At least not yet.
Also, the always-online policy, while it's very understandable, it's not polished enough. De-sync problems are still present.
Grim Dawn - Have mixed feelings about this one. I don't have too much time into it, about 20 hours, but, i don't know, while the game it's great as an ARPG, it seems to lack an certain personality. Darker than Diablo and even Path of Exile, but lacks something. I prefer Titan Quest due to this fact, but i'll keep playing Grim Dawn, mostly out of curiosity. As simple and straight forward it seems, it's a game with a lot of content. The company seems pretty involved into it. Even if it's in Early Access, the game runs good, it does not feel like an beta and it's often patched.
Deathspank - This one it's not too often mentioned, but i find it great. If you ask me, Deathspank is what Torchlight 1 aimed to be. It's fun, it's easy to get into, but it's also not tailored around grinding idea. Great ARPG if you want something that won't eat you hundreds of hours in order to feel like you are really playing the game. I must say that the second part, Thongs of Virtue, it's not so great once you played the first one. It pretty much does the same thing as the first part, and it can get boring pretty fast.
The Incredible Adventures of Van Helsing - Ok, and that's all. Does not shine, does not fail, it's just there. Except few line changes between the characters, that can get pretty funny, as well as other modern ARPGs, it does not have personality. It's basically Torchlight 2 with another characters. It managed to expose it's story better than other games, but ARPGs are not about the story too much.
Long story short, i have to say that my favorite stays Diablo III for now. Even if i don't play it anymore, it's the one that kept me hooked longest. It's easier, even in end-game, there are smaller chances of getting your character killed if you are playing hardcore due to technical problems. That's my biggest problem with Path of Exile. Most of the times, my characters died due to server/de-sync problems. And it's not a nice feeling, losing your character due to an de-sync. This never happened with Diablo 3, even if the servers had some problems.
And let's get something out of the way. Dumbed down does not mean worse regarding these games. There are people (me included) that simply love playing these kind of games where you do the same thing over and over again. These days i had a lot to work and i simply needed something to relax me after the work. A game like Grim Dawn did the job just well. I basically need an activity that do not require a lot of concentration, but that i find relaxing in the same time, ARPGs do just that for me. That's where Path of Exile failed if you ask me. It feels like an in-depth, frustrating RPG with action elements, it does not embrace the simplicity of a game like Diablo III. It almost feels like an roguelike, as you need to mess up in order to learn more about the game. Only that you are not messing up after an hour of gameplay, and you can do it after hundreds of hours.