Diablo – For local co-op, does everyone have to own the game

The FAQ over on Blizzard's official console site states the following:

1. A Battle.net account isn't required to play the game on consoles.
2. There are currently no plans for connectivity between Battle.net and PSN or Xbox Live.

This means that the characters on your Battle.net account and PlayStation account will remain separate. If you don't have the PC version, you're out of luck.

Besides, someone already contacted Battle.net support regarding this issue and it looks like it's here to stay, even though the forum titled "Console" is misleading. According to Blizzard, it's basically for owners of both the console and PC versions.

There's a blue post over at the official forums trying to clear up some of the confusion. Essentially, those modes (Easy, Normal, Hard) do not alter Magic Find, Gold Find, and XP bonus in any way. They're just there for players to adjust the difficulty to their liking, increasing monster hit points and damage.

The Master I to Master V difficulties are different though:

• Master I: +60% Magic Find, +60% Gold Find, +120% XP Bonus
• Master II: +70% Magic Find, +70% Gold Find, +140% XP Bonus
• Master III: +80% Magic Find, +80% Gold Find, +160% XP Bonus
• Master IV: +90% Magic Find, +90% Gold Find, +180% XP Bonus
• Master V: +100% Magic Find, +100% Gold Find, +200% XP Bonus

That's pretty much the gist of it.

You need to hit level 10 to have access to the Master options.