To clarify, I'm referring to Diablo II, v. 1.11,  with expansion.

--  bostnbob

There is no saved game per say, rather your characters progress is saved.
Completed quests, acts and difficulties, and WPs you have activated.
Whenever you start a new playing session you will have all of this progress,
but all of the monsters in all of the areas will have respawned.

When you start a new playing session it will ask what difficulty you want
(if you have finished at least Normal difficulty). You will then find
yourself in town, in the Act you quit in, of the selected difficulty.
Playing SP, you will have the same map as your last playing session if you
are playing the same difficulty (and have not played a MP game). Generally
you will then go to the last WP you have reached and continue playing. This
is why it is SOP to wait till you find a new WP till you quit a playing
session.

Regards-
Mark

Bongo-Fury

There is no saved game.  Only the char is saved, along with his
currently active SP map, if you are in the same difficulty.  It's
important to realize that SP chars can also be played in MP mode, just
not on the closed realms.  Playing in MP mode or a different
difficulty will erase your SP char's map.

-- Roy L