It sounds a lot like Burnout: Paradise but nobody is complaining. Besides, it also sounds bigger and better…

EA has released a bunch of new information for the Criterion-developed Need for Speed: Most Wanted , scheduled to launch this fall for the PlayStation 3 and Xbox 360.

To get the full breakdown, just check out the slick introduction video below. Here are a few of the highlights: Modifying your vehicles will be a big part of the experience, as you'll be able to fiddle around with both mechanical (engine, suspension, brakes, etc.) and cosmetic (wheels, body, paint, etc.) elements. The game will also boast the single biggest and most diverse roster of cars ever seen in the Need for Speed franchise…and that's significant.

As for how we'll progress, we'll earn Speed Points, which is kinda like experience, and that will be used to unlock all sorts of goodies. I like the idea of having such a system, especially in an open-world environment that would encourage the accumulation of mucho Speed Points. Exploration in a racer, baby! Check out the good stuff: