Via the RSS feed for Criterion Games’ Blog, we’ve learned that there has been a date set for when the Cagney Update for Burnout Paradise will do live. The 3rd Update for Burnout Paradise will go live on Xbox Live and PlayStation Network at 9:00 am UK time (4 am EST, 3 am CST, 1 am PST) on Thursday, July 10th, 2008. This update, like all other updates, will be free.

Criterion is calling this their most ambitious update for Burnout Paradise so far, and it is easy to see why. Here is a shortened list of what is being added with this update:

• 3 New Freeburn Game Modes: Road Rage, Stunt Run and Marked Man
• 70 New Freeburn Challenges
• New Vehicles
• New Liveries
• Ranked Race Changes
• Other Updates and Fixes

Now, you can see why this is the most ambitious update for Burnout Paradise. The next update, codenamed Davis, is set to be even bigger, with the release of two new, never-before-seen-in-Burnout features: motorcycles and night-time. Make the jump to see details about all these new and exciting features!