After a long night of anxious waiting, we can finally confirm that Diablo III has been announced.

The announcement began with an acoustic rendition of the Diablo theme music followed by the game's first trailer. The trailer included an ominous voice over of the type we've come to expect with the series' dark occult themes set to images of "castles and battles and stuff blowing up."

The game's lead designer, Jay Wilson, then stepped on stage for a demo of the long-awaited action-RPG. Wilson showed off a muscle-bound barbarian character who he said perfectly embodied Blizzard's philosophy for Diablo III: "No such thing as too much power."

Visually, the game takes a cue from last year's big Blizzard announcement, Starcraft II; rather than go the route of amazingly realistic graphics that require a high-end computer to run, the game's engine will remain isometric with slightly stylized graphics.

The official website also contains lore for both of the currently revealed classes, several types of confirmed enemies, and a journal entry from the aforementioned Deckard Cain. Three more character classes are promised, leaving plenty of time for more big reveals before the game's release.

In addition to all that fun story stuff, the website's FAQ provides some interesting information on the game that Blizzard is already calling "the definitive action role-playing game." It seems Diablo III will be set twenty years after the last game -- the heroes of which have gone insane -- with most of the world of Sanctuary's inhabitants not knowing how close to destruction their world came. In addition to randomly-generated environments and dungeons, Diablo III will introduce random scripted events.