Taking a look at the screens from Magicka you could easily dismiss it with the word "oh, another Diablo clone". However, that is not the case. Not at all. No loot, the experience points, very few items, and a "very generic fantasy world" (developer's own words). Instead the main selling point of the game is the spell system, that allows players to combine spells from different elements. The addictive quality in Magicka is in its playability rather than stats and numbers.
Arrowhead Game Studios won the Swedish Game Awards in 2008 with a prototype of Magicka and the game has now been picked up for publishing by Paradox Interactive.
The game is in development for PC and consoles (no word on whether it will be both PSN and XBLA at this point) and aimed for a digital release next fall. Check out the screens and trailer below.