We've heard time and time again about Diablo III possibly coming to consoles due to job listings posted by Blizzard. Frankly, this story has gotten incredibly old, but we do finally have more to go on. At gamescom, lead designer Josh Mosqueira said that Blizzard "is very, very serious about bringing the Diablo III experience to the console."
"Today, we're trying to build the best console team at Blizzard. We're looking for programmers, designers, artists who think their dream job would be to bring Diablo to the console. Trust me, it is a dream job."
Even still, this is not a confirmation, exactly. During a recent Q&A session with the company, it was emphasized that they are still exploring the viability of porting Diablo III over. So there's a chance the initiative could be scrapped, and if it isn't, we're still likely looking at a rather far-off release.
It sounds like there would need to be a lot of factors taken into consideration -- more than just "Which buttons perform which commands?" -- especially once you start looking at things like the real-money auction house. A larger audience for the game would be great, though.
Blizzard "serious" about console Diablo 3 [Eurogamer]