God no. I played it because I'm a sucker for loot whoring games and Dungeon Siege III was a travesty.
It's incredibly linear, the character abilities aren't much fun to use, combat has no impact whatsoever (it feels like you're hitting pieces of paper with string), the healing mechanic is just awkward, and worst of all - the loot is garbage. I found two different styles of armor for each of the characters, and that's it. You also get none of the satisfaction of being able to see your character up-close (maybe that's good as the graphics aren't great) and the lack of decent items completely removes the fun of getting new stuff and watching your character look more and more badass.
It had potential, though, as being able to roll in combat added an interesting action element to it, but over the course of the game it never really amounts to anything fun. It's just a long, boring slog through a game that's about as linear as FFXIII.
Titan Quest or Torchlight are good bets on the PC, and Sacred 2 or Torchlight on consoles.
Sacred 2 is probably my pick there, as it offers local co-op (proper local co-op, unlike DS3!) and a shit-ton of content. It's a bit janky, but the sheer size of the world and the amount of customization afforded the characters makes it all worth it.