From what I see every other race gets magic so they are equal with the warlock. Now warlock has no attributes that are special.
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We've seen 12 minutes of gameplay. Bungie is most likely keeping what makes each class special to themselves for now. I'm sure the Warlocks will be fine. I mean, one advantage they have already is that they can [i]launch [/i]their space magic; Titans have to get up close and personal to use the Fist of Havoc.