The time for sieging dungeons is upon us once again! It's been about two months since our PAX preview of Dungeon Siege III, and now the demo is available on Xbox LIVE so that everyone can get a taste of what Obsidian and Square Enix have cooked up this time around. The demo is exclusive to the Xbox 360 until next week, but don't fret PS3 and PC gamers -- there is plenty more Dungeon Siege III to go around.

Obsidian has released several trailers focusing on the story, the characters, and the highly anticipated multiplayer component of Dungeon Siege III. Now the most recent trailer gives us a more detailed look at some of the spells and empowerments Lucas, Anjali, Katarina, and Reinhart will be bestowed with while questing throughout Ehb.

Check out the enchanted weaponry and devastating magic usage in the trailer:

[bitsontherun 5PmWauo8]

A lot of the news regarding Dungeon Siege III has revolved around the drop-in/drop-out co-op, so it is nice to a little bit more of what each individual character will be able to add to the adventure. The Dungeon Siege games have always been very robust and expansive, and although this sequel will be a significant shift from the previous titles, gameplay videos such as this highlight the depth that the developers have managed to bring to DS3.

Cooperative action RPGs on the consoles are much less common than they should be. Fable has been great for the Microsoft crowd, but it's about time we had a multiplatform game like this. Good on the developers for deciding to branch out with the third entry in this long running series and fill in that sadly untapped gap.

Does the idea of a multiplatform action RPG from Obsidian Entertainment and Square Enix excite you? Have you tried out the demo on Xbox LIVE yet? Let us know what you think of Dungeon Siege III in the comments below.

Update: the kind folks at Square Enix have just issued a trailer of the demo in action. Check out the trailer below, and if you haven't yet, go download the demo.

[bitsontherun ft3onpRY]

Dungeon Siege III releases June 21, 2011, for the PS3, Xbox 360 and PC. Remember, the demo is now available on the Xbox 360 and will be on PSN and Steam June 7th, just in time for E3.