Shortly after Microsoft made the announcement that Forza Motorsport 3 was coming to Xbox 360 this fall, Turn 10 hosted a VIP party in Los Angeles to demo the game.  The event was conducted in a large tent atop a parking garage.  Inside the tent was justification for the garage setting; one dozen of the latest and hottest production cars.  On center stage was the new Audi R8 V10.  Other cars included a Subaru Impreza WRX STi, Ferrari California, Chevy Corvette Z06, and a Matte Black Lamborgini LP640.  Amongst the beautiful cars were also more than a dozen demo stations, each with a large screen flat panel display to demo Forza Motorsport 3.  DJ Skee and DJ Revolution both contributed to the soundtrack for the evening.  The attendees consisted of representatives from many forms of media, race car drivers, and of course members of the T10 development team.  Among the lucky few was Takata Time Attack's own James Elterman.

To read James' impressions of Forza Motorsport 3, follow the jump.

For more photos and a thorough write up of the event, check out Cheston's write up at My350Z.com and Six64Four's write up at the Forza Motorsport forums.

To find out the latest news regarding the release of Forza Motorsport 3, visit ForzaMotorsport.net and visit their news, blogs, and forums.  FM3 will be released exclusively for the Xbox 360 in October 2009.

Today marks the first day of the E3 Electronic Entertainment Expo in Los Angeles, and Microsoft got the event off to a great start with an incredible press release.  Amongst many big announcements for games and new features for the Xbox 360 console, developers Turn 10 finally made the announcement for their next project, Forza Motorsport 3.  Turn 10's goal with FM3 is to develop the definitive racing game of this generation.  It is a game that caters to all maners of auto enthusiasts from hardcore racers, casual racers, drifters, drag, painters, collectors, and more.  With over 400 cars and 100 tracks, an both online and offline play modes, it is an absolute automotive playground. 

The Forza video game series has an incredible community thanks to a large and diverse fan base, and a developer that plays an active role in the Forza community.  Included in the press-release was a Forza Community Spotlight Video which highlighted some standout members of the Forza community.  One of those highlighted was Takata Time Attack's own James Elterman.  The Takata Time Attack Impreza was designed entirely using the livery editor in Forza Motorsport 2, as part of a contest that was ultimately won by Andre Guerrieri, who was also featured in the video.  To check out the video, click on the screen grab or follow this link.  For more information about the livery contest, check this link.

Forza Motorsport 3 will be released exclusively for the Microsoft Xbox 360 console in October of 2009.  For the official press release, visit this link.  For more information, visit ForzaMotorsport.net.

Gran Turismo 4 for Playstation 2 recently hit store shelves.  Although the game was easily one of the years most anticipated games, the fanfare seems to have died down very quickly.  Xbox fans are still waiting for Microsoft's answer to GT4 in the form of Forza Motorsport for Xbox.  Forza is currently scheduled for a release on May 3rd.  The hype over this game is growing.  Fans of Subarus and Online gaming should not be disappointed.  For all the latest news pertaining to Forza, check out the unofficial fan-site ForzaCentral for the latest news.  In the meantime, check out this screenshot of the Cusco JGTC Subaru Impreza and also a video of the car in action courtesy of ForzaCentral.  To view the video you must have the Xvid media codec installed on your system.  You can download the installer here.

The Cusco JGTC Subaru Impreza will soon be appearing in two highly anticipated racing games.  Forza Motorsport for the Xbox, shown at the left, will also include the Subaru WRX STI, Spec C, 2.5 RS, and 22B.  Forza arrives in stores in April.  Gran Turismo 4 for the Playstation 2 is currently antipated to arrive a month earlier.  GT4 boasts more cars than Forza, topping 500.  Both games offer players a wide range of customization and tuning options, but only Forza will offer online play initially.  More pictures after the jump.