Start With A Pet Troll And Potion Of Respec:

On the start menu for Torchlight, look at the bottom of the screen for a spot where you can invite your friends to play the game. When you do, your next new game will start with a potion that allows you to reallocate all your spell points accumulated so far. You also get a fish that turns your pet permanently into a Troll with higher stats than the standard pet.