Hey, there's actually a thread for this!!
After being a bit disappointed with the Warhammer Chaosbane beta, and still impatiently clamoring for the Grim Dawn expansion, I remembered this little gem from a year ago.
The game is proceeding along nicely in Alpha, and there is also a free demo you can try which I believe is a few builds behind. I remember playing it a long while ago and I think the current alpha content is quite different, but my memory is fairly hazy. Similar to other early access type of games you can get alpha access with a early $ pledge (preorder).
In any event, this game definitely scratches the HNS-LNL-ARPG (hack and slash, loot and level) itch much better than Chaosbane did. There's a lot more customization feel from the getgo, and even this early you can see you will be making a lot of choices as to how you want to specialize. There will be 5 base classes, and each will have 3 mastery classes. You have a limited amount of skills you can have active at a time, and as you level you can choose some of the skills to focus on. By focus on, I mean they have their own branching tree of customization. So for instance the simple summon wolf spell can be specialized to add more wolves, or make each wolf stronger, or add retaliation, etc etc. There's also a passive skill tree of your own that you can spend points in to unlock more skills and specialize.
Loot drops are your standard fare with multiple rarities, but there's a pretty cool customization/craft system that looks to be kind of a hybrid between Titan Quest/Grim Dawn and Diablo 3. You get drops that add prefixes or suffixes, and then you can apply these to different pieces of equipment. It looks like it could be a really nice system, perhaps simpler than the other games but more practical and functional.
I realize different people and companies have different definitions and expectations of an "alpha" but this is definitely one of the best, most playable "alpha" builds I've ever tried.
If you are in the market for a game of this type, it certainly wouldn't hurt to give the (free) demo a try.