Actually, M&M basically LoC on beefers.
It have much of original creatures, the same system "select your magic before playing the map" and several similarities through level. But it is realtime vs turnbased, of course, and so much of system was revamped.
Also, if you like Fate, check Torchlight.
The same thing (from the same author
, but simplier, more eye-candy and with plot and guns. I prefer third Fate, but only for it's "hardcoreness" (as far as this word can relate to Diablo 2-light). Torchlight is
too easy and simple.