First one is that it will be released July 1st, because alot of times when some company says "coming September 2218" it will come the first of September, 2218.
Second theory, has two potential dates. Date number one is the third of July, second is fourth of July. Third of July would have to be later in the day, I don't think this is the right date.
Fourth of July is probably it, because it's the Fourth of July, and SRO likes to give updates and events on holidays. Second reason is because that's the day after the compensation event ends.
It makes sense because why would an event only go on for five days and not seven? Usually Joymax has events for one or two weeks.
Theory based on this:
[Compensation Event Detail Information]
Event Server : All servers
Event Date : 6/29/2007 ~ 7/3/2007
Event Content : Character Experience, Skill Points 30% Increase
So, let's hope that the update comes out first of July, if that's not it, then third or fourth



