20th Century Fox has released yet another action-packed trailer for their Tom Cruise/Cameron Diaz summer vehicle Knight and Day.  While there are only bits of new footage in this third trailer, it continues to suggest that the film may be a fun return to guns-blazing, gravity-defying form for Cruise after his last pic, the lackluster WWII thriller, Valkyrie.

Here’s the official synopsis from 20th Century Fox for Knight and Day:

An action-comedy centered on a fugitive couple [Cruise and Diaz] on a glamorous and sometimes deadly adventure where nothing and no one – even themselves – are what they seem.  Amid shifting alliances and unexpected betrayals, they race across the globe, with their survival ultimately hinging on the batle of truth vs. trust.

Translation?  Watch the odd couple that is Cruise’s fearless agent and Diaz’s everyday gal race from one explosive set piece to another, while finding time for the occasionally humorous and/or flirtatious moment here and there.

Will Knight and Day be good, silly fun then?  Just have a look at the new trailer and decide for yourself:

[Video removed from YouTube due to Copyright claim – We’ll update post with video when it becomes available]

Having Cruise play a possibly nutso agent was a wise move on director James Mangold’s part, but I have my doubts about Diaz pulling off the flustered, “average person” role – mostly because, truth be told, she’s never really impressed me as an actress.

The CGI and green screen effects are just a bit dodgy in parts – the plane crash especially – but Knight and Day at least looks like it’ll be a fast-paced amusing romp.  Will it be a sort of sleeper hit, in the vein of the similarly-comedic explosion fest that was Mr. and Mrs. Smith?  I think it potentially could be.

You should also check out the Knight and Day Super Trailer and the behind-the-scenes “stunt” clip from the movie if you haven’t already.

What do you think?  Does Knight and Day look like a fun exercise in mindless but entertaining blockbuster action?  Sound off in the comments section below.

Knight and Day will arrive in theaters in the U.S. on June 25th, 2010.