I've uploaded a pic of the table I've used for difficulty calculations in v0.93 so you can get an idea how the difficulties work.
As you can see, playing on level 1 with no gear has a value of 1.0 on Normal difficulty. This value represents the hero power; a higher values means a stronger hero = an easier game. A level 10 hero with epic equip has a power of 3.04 in Normal, so he is about 3 times as strong as a lv1 hero with no equip.
It can also be noted, that a lvl10 hero with fully epiq equip has only a value of 0.95 in Insane. So, in v0.93, Insane is a challenge even for high geared and leveled heroes.
I don't know - maybe I should smoothen up the difficulties a bit, or, which might be even better, just add one more stage. So we got 5 stages instead of 4, like: Easy, Normal, Hard, Insane, Legendary.
What do you think?