Techland has announced that a new update for the Xbox 360 and PlayStation 3 versions of Dead Island is now available for download. The update raises the level cap to 60, as well as fix some of the quest rewards, add new weapon mod blueprints, and grant instant item pick-ups, among other tweaks and fixes.
The full patch notes include (as seen on the official blog):
Gameplay improvements
* Level cap raised to 60
* New blueprints for weapon mods added
* Infected damage reduced
* Infected no longer interrupt player attacks
* A series of improvements to subsequent playthroughs implemented:
quest XP rewards adjusted;
XP rewards for challenges adjusted;
in subsequent playthroughs XP is awarded for all quests completed in co-op
* Purna’s ammo carrying capacity increased by 50%
* Character state from a save game can now be loaded when using the Start from Chapter option
* New balancing option added: enemy levels can now be adjusted independently for each co-op player
* Players respawn with more health
* Picklock skill level required to open a lock is now clearly indicated
* Improved rewards in weapon crates
* All weapon crates now contain rewards
* Kick ability balanced, now requires stamina
* Items can now be picked up instantly; this is reflected in adjusted animations
Fixes and interface improvements
* Fix: players are no longer left without a weapon after dropping the equipped item and healing with a medkit.
* Fix: equipped items no longer swap mysteriously after drinking an energy drink
* Tweak: healing with medkits from inventory works better, makes smarter choices of medkits
* Fix: loot from dead enemies is now always identical for all co-op players
* Fix: Purna no longer finishes her Fury with fists equipped
* Fix: map tracking after death
* Fix: zone info in the quarantine zone (City of Moresby)
* Tweak: respawn point selection is now smarter
General
* Improved stability and network performance in co-op
* Quest and reward fixes implemented 
