I have noticed that there is now a Torchlight 2 demo available for download on Steam, which I am currently in the process of downloading. However, I've had a quick look around and can't seem to find what the limitations of the demo are in comparison to the full game.

* Is there a maximum time limit to how long you can play?
* Is the limitation on content? How far through the game can I play in the demo?
* Can I join multiplayer games with the demo? 

Is there anything else I should know about the demo?