Trine developers Frozenbyte have announced Has-Been Heroes [official site, a roguelikelike action-RPG about fantasy fogies cutting through hordes of monsters as they escort the kingdom's princesses to school. I am very sorry to say that, as far as I can see, Frozenbyte have turned their back on the truth and the light and the way that is grappling hooks. I will forgive them, mind, as their hersey does seem to involve a whole lot of magical explosions. Here, see for yourself in the announcement trailer:
So! You have a lineup of heroes from regular fantasyfolk like rogues and wizards to more esoteric ones like, ah, luchadors. Frozenbyte say they can be powered up with hundreds of different items and spells. They talk about combining spells and learning new elements too, which sounds a bit Magicka-y.
As for the roguelikelike part, it looks like it's made into runs, with each deadly try bringing new level layouts (made of rooms connected by branching paths) and the luck of the drop. To my eyes, at least; I can only see what you see.
Has-Been Heroes is due to launch this March. Frozenbyte are also working on a Magicka-lookin' wizard 'em up, Nine Parchments.