To me it falls short of being a competitor for D3, however.
The skill system seems fine, but a bit boring to me. (Feels dated, if anything). I don't get a rush out of adding a 4th skill point to a skill that increases 3% power each skill point, so I tried saving up every skill point from lvl 1 so I could point-bomb a skill I unlock at lvl 7, but they're too smart for that and force you to spend your early skill points on early skills. (Which I found ALL underwhelming with the one exception of extending range for my Outlander)
Stat points, etc. I see no gameplay advantage or real character distinction through assigning them. I'd say it's equivalent to D3s (Entirely missing) attribute assignment. I simply don't care whether it's there or not.
On the plus side, I like the Outlander FAR more than I like DH in D3. The items are also pretty neat, in that you're CONSTANTLY getting new upgrades. Seems good, although I found it almost overwhelming in that I had to regularly check my inventory to see if one of the several magic items I've found are worth using.
So in short, it's a good game. I gave it about 3 hours of playing, I'll probably play it when I get bored of D3 sometime.
But equal/better than D3? Not even close.