I've been playing the Dungeon Siege series since it was released and Dungeon Siege 3 felt like I was spat at as a hardcore fan. In my opinion a game like this should not be designed for consoles, that is what turned me off from Dragon Age 2. The cinematic cut scenes felt very out of place and the facial expressions are... off-putting. Multiplayer is extremely awkward, it caused a nasty headache after only five minutes of attempting to play. The female characters seem a bit "overdeveloped" for my tastes, but I guess you have to appeal to new male players some way, especially if you want to pull new players from games like Call of Duty or Halo. I do not like how the combat system felt "dumbed down", I liked being able to use multiple skills/spells tactically.
What I miss most from Dungeon Siege and Dungeon Siege 2 is the Character Customization and the open feeling of the environments. I'd rather not be playing a Dragon Age 2 clone. I've discussed the game with several friends and they all feel the same way.
On a less negative note, I'm curious to who did the music, it does not sound like Soule (who did the music for DS, DS2, and Guild Wars).