IMNSHO it has better replay value than Diablo. I didn't finish either Diablo 1 (got interrupted for awhile and just never went back to it) or 2 (got bored with the straight hack and slash).
You can change the difficulty setting during a game, but opponents do not respawn, and you can not start a new game with the same character. The quest design is better than Diablo (few straight hunt and fetch quests, a couple have multiple solutions), as is the world interaction (you can move furniture around and stuff stays where you put it; collect chests to store your loot wherever you want, or safely leave it on the ground), dialog, atmosphere, etc.
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