Eh, it's overrated. Planescape is a nice concept that really starts to break down upon analysis. It's a fun setting to use, but has so many flaws that it's hard to take seriously.
And c'mon, an RPG where you can't die? What sort of ridiculous idea is that?[/troll]
Ok, serious opinion. Haven't played Torment, but it's on my list. I do feel that Planescspe is a flawed setting, due mostly to the metaphysical nature and how it handles the various deities that inhabit it. But it's interesting, creative, incredibly deep, and tries to handle religion and morality well, so I can definitely work with it.
The concept of Torment intrigued me since I heard of it, but I haven't had the opportunity to play it yet. Too many other things in line first.