It is rather disappointing to see that we cannot use the mouse for the spiffy new 360 degree aiming feature (have to use a pad).

Aw.

Not sure why you would want to use a mouse although it does not mean that there are people out there that would still use it. I kind of have a reservation about mice for FPS games.

WASD + mouse is equally awesome for isometric shooters as it is for the first person variety. :)

So WASD & Mouse Aim is not possible?

Too bad, I was about to buy the game. But the lack of this control method annoyed me in Hammerwatch, too.

Right, but it is not the original release.
They recoded a lot of things, but some things (which could improve the gameplay a lot) were left untouched....