E3: Forza 3 officially unveiled

Dan Greenwalt, boss of Forza Motorsport studio Turn 10, has announced the third instalment in the racing series, calling it the "definitive racing game of the generation", "memories of first cars" and the "glamour of the Hollywood chase".

The game will feature 400 cars from 50 different manufacturers, all running at 60 frames-per-second.

"One button drive" was also mentioned, which is presumably a mode for children and idiots. Another feature, familiar to players of GRID, is the gameplay rewind function, which will presumably allow mistakes to be rectified with a snazzy bit of time-manipulation.

There was a hefty community element to the presentation, with much being made of the ability to design and share liveries, as well as a pretty useful-looking HD video editor, enabling uploads to the community. Choreographed cars were seen dancing about on an open, countryside track, as well as a more traditional racing environment, with damage modelling in clear effect.

Forza Motorsport 3 is touted for an October release this year .