Ubisoft has released the 1.2 patch for FarCry fixing several issues including increased running speed/length and adjusting damage to vehicles. While those are just a few issues, the list of fixes is quite lengthy. Click Read More for the complete list.

Go download it!
Fileshack
3DGamers
WorthPlaying Patch 1.2 Change log

Patch 2 change log

Current changes:

* Made the run speed about 15% faster
* Made sprint last 30% longer
* Adjusted damage to vehicles

(vehicles now survive longer in multiplayer and behave consistently between weapon damage types) Bullet damage can be disabled by “g_vehicleBulletDamage” cvar: 0 = no bullet damage (default), 1 = bullet damage; this works only in MP.
MP vehicles can get the same damage from every kind of bullet (no distinction between sniper rifle and the deagle), this value is set by ‘dmgBulletMP’ variable inside ‘DamageParams’ table of the vehicle.

-buggy, humvee and gunboat can be destroyed with one rocket.
-bigtruck can be destroyed with three rockets.

-buggy and gunboat can be destroyed with 100 bullets (if g_vehicleBulletDamage = 1)
-humvee can be destroyed with 150 bullets (if g_vehicleBulletDamage = 1)
-bigtruck can be destroyed with 500 bullets (if g_vehicleBulletDamage = 1)

-vehicle damage code cleaned and made more consistent.

* If punkbuster is not installed the “punkbuster enable” togglebox will not be disabled
* Fixed a number of serious issues with headshot detection
* Ported a number of sensitive routines into non SDK sources
* Fixed some issues with ladder animations appearing odd to other players
* Added quicksave support for single player (still in process)
* Fixed bug where players name tag didn’t show up
* Fixed bug where console would accept letters as variable states
* Fixed a number of ladder related issues
* Fixed error with warning message in connection dialogue
* Fixed a significant number of bugs relating to quicksave (~100 bugs)
* Fixed a connection dialogue error
* Fixed an incorrectly localized HUD message
* Fixed bug with server shutdown dialogue error
* Addressed a number of issues with the server list UI
* Fixed bug causing cancel button to stop working
* Server create sessions are now saved
* Fixed a bug causing game freezes when player joins and player rotates
* Fixed a rendering issue with Radeon 9600 graphics cards
* Fixed Punkbuster crash when switching from punkbuster online server to hosting LAN server
* Fixed issue with punkbuster icon not showing up in the server listing
* Fixed random crash relating to punkbuster server listing info
* Fixed issue with punkbuster refusing connection to a server that is destroyed and then re-hosted
* Fixed a number of crash problems related to punkbuster server creation with non-dedicated servers
* Fixed issue with punkbuster enabled in multiple server profiles
* Disabled e_vegetation_min_size in multiplayer (used as cheat)
* Added optimizations for character effects including invulnerability shader
* Added optimizations for scoreboard performance. Scoreboard no longer updates fields that have not changed
* Fixed issue where radar would not be drawn correctly with certain game type changes
* Fixed framerate issue when player touched assault ammo pickups
* Fixed issue with password protected servers not removing password after restart
* Fixed issue with spectators not being able to hear ambient sounds
* Fixed message printout for multiplayer statistics (was only working with log_verbosity 1, not it works with 0 (default) as well)
* Fixed listplayer on the client (was only working on the server)
* Changed multiplayer scoreboard system for less bandwidth and easier extendibility
* Fixed bug in scoreboard that reported ping incorrectly by a factor of 2. Pings now appear correctly (half the old values). Note: ping is still the same, the output value was inaccurate)
* Fixed check in server/client version check (now you cannot connect to servers with old network code)
* Fixed bug in submitted Punkbuster ID causing random CD Key hash to be generated. Global ID unique to CD keys is now parsed correctly.
* Added MultiplayerUtils:OnChatMessage a script function which is called on the server for every chat message (to enable saving out chats)
* Made several changes to improve network packet scheduling
* Separated multiplayer and single player weapon code better functionality with mod developers and support for changes to MP balance without affecting single player.
* Made a number of changes to multiplayer weapon parameters, outlined below:

All weapons – Increase accuracy while standing still by 25%
Made the medic packs give 50% more health for the engineer class
Reduced rocket launcher clip to 1, no change to lethality.
Increased MP5 damage by 30% with full auto, 50% increase with semi-automatic
Adjusted AG36 damage to head and torso.
Reduced AG36 grenade radius.
Increased OICW accuracy by 30% when zoomed.
Reduced OICW grenade clip to 3 with max carry of 3 in the gun and 3 in reserve
Increased Pancor damage slightly
Reduced P90 damage by 10% and reduced max range by 25%
Increased lethality of mounted weapons.

* Improved detection code for player name tags, fixed issue causing name tags not to appear if crosshair was on arms and legs
* Fixed collision detection on the dedicated server with different arm position because of different weapons. Hit detection is now more accurate.
* The record console variable was marked as protected because it opened up some cheat possibilities
* Fixed a bug that sometimes caused players hit by a buggy not to credit the driver with a kill
* Fixed a number of issues with discrepancies between player cameras in 1st and 3rd person
* Fixed a crash relating to Rcon commands with dedicated server
* Fixed bug with FarCry MOD version number being incorrectly displayed as 1.0
* Reworked a number of installer issues
* Fixed a number of bugs relating to Linux dedicated server porting
* Fixed bug causing mercenary reinforcements to behave incorrectly

With regard to a problem with punkbuster updates during LAN play:

Note: If you experience connection issues during LAN play or your connection is refused by punkbuster, you can disable the connection checking with the following command (as the server).

pb_security 0

This may be caused if punkbuster is trying to update itself with an incorrectly configured firewall or unavailable internet connection.