I pretty sure that people want it to be like Diablo2 simply because, well, they really liked Diablo2 (and Diablo for that matter)! I don't think too many people think that it should be EXACTLY like Diablo2, but I think it is safe to say that many of the fans would not want an MMORPG similar to WoW. That is not to say that adding some features of MMOs would be a terrible idea, or that upgrading the graphics to today's stardards would ruin the game. I know that it would be controversial, but i would even be willing to pay a subcription if it supported more secure servers and ongoing content. However, I really just want some good ol' hack n' slash, loot farming goodness, and know that if any developer can do it right, it is Blizzard.
I am also hoping for a longer game than Diablo II was. Four acts seems a bit short. However, if all the acts are a little bit longer than Diablo II's and it has a full length act 4 (unlike DII) it should be a good length for me.
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-Gerahben