Torchlight II: What Are the Differences Between Modes or Difficulties?

Here are some first hand look of the different game modes or difficulties in Torchlight 2. If you can't decide which mode you want best to play, this list might be able to help you.

Unlike Torchlight 1, Torchlight 2's item drop rates will not depend on your current difficulty!, but this time, gold drop rates will decrease as you go up in difficulties. This will greatly impact your