@CameraLuv : You're absolutely right ! I'm now playing this game with a camera hack (I own a legal copy obviously) and having a lot of fun.
I've owned Dugeon Siege 3 for several years and couldn't get past this atrocious camera angle. I had shelved the game with no hope of ever playing it again. And then I found your post and I searched for solutions on the net once more, And I was successful !
With a camera hack the game is really great (sure there are a few quirks but since you can adjust your camera at anytime, they're not problematic) and I really enjoy the story so far.