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Spent some time with Drifting Lands. Yep. This is exactly what I hoped for after hearing the "Diablo + Shmup" concept. Loads of loot (same sort of somewhat-randomized stats and things as Diablo, and tiers), active and passive skills of various sort divided into skill trees (you can have 4 active and 2 passive at once), lots of ship stats and ways to upgrade, different elements, different base ship types (means different amounts of slots of various sorts), and the actual gameplay is fantastic.
There wont be much to watch, I'm guessing. This fully released months ago, it seems they've finished any patching they were doing some time ago.