If you’re not tired of LOTR by now, or if you just want some good old action RPG-ing set in the LOTR universe, then The Lord of the Rings: War in the North is looking pretty good. In the spin-off game set in the North of Middle-Earth, you’ll be fighting the forces of Agandaûr — some evil sorcerer and descendant of the Black Númenórean.
More importantly, it’s a 1-3 player co-op game by Snowblind Studios. You may know them as the developer of Baldur’s Gate: Dark Alliance, Champions of Norrath and Champions: Return to Arms. They showed it at PAX last year where I didn’t get to play it, but saw at least half an hour of it while waiting in line for Duke Nukem Forever. It looked decent enough, with a focus on co-op gameplay between the Ranger, Elf and Dwarf supporting each other.
Between this, Dungeons & Dragons: Daggerdale, Torchlight 2 and possibly Diablo III this year, I’d say we have little to complain about when it comes to co-op fantasy action RPGs.