All of the game features will work as expected.
What does not
Shadows do not work in act I. I was able to go to act II with shadows enabled and they appeared to work fine there, but I didn't bother keeping shadows on so I turned them off al together.
I too did experience the out of memory error after a short while. It seems to occur with me anywhere from 10 - 30 minutes.
What was not tested
Extended game play was not tested due to the "Out of Memory Error"
AMD Athlon II X2 250 Processor (dual core @ ~3.0GHz) Nvidia GeForce GTX 260 with proprietary driver version 310.14 4gb ram Running wine 1.4 I was not able to get the sound to work, but in 1.4.1 and 1.5.16 which I tested do have working sound.
|Operating system||Test date||Wine version||Installs?||Runs?||Used|
|Show||Arch Linux x86_64||Feb 10 2015||1.7.36||Yes||Yes||Platinum||u312302109381290|
|Show||Ubuntu 14.04 "Trusty" amd64 (+ variants like Kubuntu)||Nov 15 2014||1.7.29||Yes||No||Garbage||an anonymous user|
|Show||Ubuntu 14.04 "Trusty" amd64 (+ variants like Kubuntu)||Oct 23 2014||1.7.29||Yes||Yes||Platinum||u312302109381290|
|Show||Arch Linux x86_64||Sep 30 2014||1.7.25||Yes||Yes||Platinum||an anonymous user|
|Show||Arch Linux x86_64||Aug 01 2014||1.7.23||Yes||No||Garbage||an anonymous user|
It appears the game doesn't always shut down properly. For the all versions, this will waste RAM (and possibly CPU time). For the Steam version, this will also prevent cloud syncs, and you will not be able to re-launch Torchlight 2 until the old process is gone.
Use killall Torchlight2.exe2 to force-kill it. In my experience, this has no negative effects (if you do it after trying to shut down the game properly first).