Blizzard will soon be releasing the beta version of Diablo 3. This means that the actual release date for the game is probably only a hand full of months away. I was playing Diablo 2 LoD and someone mentioned something about the release date for Diablo 3 being in December of 2011.
Has Blizzard officially announced the game's release date?
I certainly hope there isn't a monthly fee to play the game like world of warcraft.
The game is not going to be pay-to-play, but the auction house feature in this game will allow you to use real money, meaning you can both spend and make real money, although I am not sure if the money you make has to be spent in a specific place.
Also it has been said that the game will require an active internet connection to play at all times...
I found this information from the Diablo III website and the Battle.net forums.