A plasma torch assembly, and components thereof, is provided with optimized attributes to allow for improved torch durability add versatility. A torch nozzle is provided having a novel design, including exterior cooling channels running along a length of the nozzle. An improved inner retaining cap assembly is provided which imparts a swirl on shield gas flow. Additionally, a shield cap and outer retainer have optimized geometries to allow the torch to be made narrower to facilitate the cutting of complex 3-D shapes and bevel cuts not attainable with known mechanized plasma torches.