So, I've looked at TorchEd and have a solid idea for a mod I'd like to make, but am curious about how much of it is possible.

The goal is a class, which I know is certainly possible. I'd like it to be largely unique abilities, also definitely possible.

The question is with a custom model with a custom skeleton and custom animations: Can it be done? In theory I know it should be possible, but I can't find any class mods with custom models, and I assume this is either due to lost interest by those who attempted it, or by the difficulty of the process.

Are there any good tutorials on how to set up a model for Torchlight? How to set up a skeleton and all of that? I've looked and it's been hard to find good information on the matter. Any help would be greatly appreciated.

This thread over at forums.runicgames may point out other helpful areas for your research (I know there's a LOT of such threads scattered throughout both fora...)

That is some excellent reading material, and definitely shows the possibility. I'll keep it bookmarked as inspiration.