So basically, I am looking for a program that I can set up a system that will do the following:

When I hold down my Right Mouse Button and have my mouse within a certain set of X/Y coordinates, it will perform a certain action. I need to be able to continuously hold down the RMB and move my mouse around, but it will keep updating depending on where my mouse is positioned.

Splitting up the screen into eight cardinal directions, W for the up-center, WA for the upleft-center, A for the left-center, etc.

http://www.autohotkey.com/

Seems to be pretty powerful despite being open source.
Comes with a couple handy features:
- record (and convert to an editable script) mouse and keyboard input
- add script syntax to popular text editors like notepad++
- monitor window that shows cursor position and more
- tutorial
- decent Windows integration

second on AHK.

http://www.autohotkey.com/docs/commands/MouseGetPos.htm
Seems a simple if-then statement where MouseGetPos is run for the X and Y positions.

http://www.autohotkey.com/docs/commands/WinGetActiveTitle.htm
I would also recommend using WinGetActiveTitle to make sure you only issue said commands when you're in the game.

Thanks guys, have got it working... To an extent. It's a bit too... unnatural so I have bailed on it entirely, just not fluid enough for an ARPG game and it's better to just use their WASD controls than deal with the minor delay.