I have right clicked the Daikatana shortcut on my desktop and added the +set console 1 thing at the end, exactly like it should be, launch the game from there and VOILA, there is no console when I hit the ~ key......

I remember that the cheats only work for a new game, thats fine, but I cant even get the console to come up!

I'm running the "Default" 1.2 version from GOG. As of this post I just bought the game and installed it about a week ago. I'm not concerned about the 1.3 patch, fyi......

Apparently one update broke the cheats, according to another forum post, so maybe installing 1.3 could fix this?

The post in question:
https://www.gog.com/forum/daikatana/new_patches_break_save_game_compatibility_and_cheat_support

Also, it seems GOG's internal updates fixed what was broken because I just reinstalled the game (offline installer) and cheats worked just fine.