Дата релиза: 3 мая 2005 года
Период записи: ноябрь 2004 - январь 2005
Место записи: Лос Анджелес, Калифорния
Жанр: Поп-панк, эмо
Продолжительность: 42:59
Лейблы: Island Records, Fueled by Ramen
Продюсер: Neal Avron

Треклист:
01. Our Lawyer Made Us Change The Name Of This Song So We Wouldn't Get Sued
02. Of All The Gin Joints In All The World
03. Dance, Dance
04. Sugar, We're Goin Down
05. Nobody Puts Baby In The Corner
06. I've Got A Dark Alley And A Bad Idea That Says You Should Shut Your Mouth (Summer Song)
07. 7 Minutes In Heaven (Atavan Halen)
08. Sophmore Slump Or Comeback Of The Year
09. Champagne For My Real Friends, Real Pain For My Sham Friends
10. I Slept With Someone In Fall Out Boy And All I Got Was This Stupid Song Written About Me
11. A Little Less Sixteen Candles, A Little More "Touch Me"
12. Get Busy Living Or Get Busy Dying (Do Your Part To Save The Scene And Stop Going To Shows)
13. XO

Бонус-треки лимитированного издания Black Clouds and Underdogs:
14. Snitches and Talkers Get Stitches and Walkers
15. Music or the Misery
16. My Heart Is the Worst Kind of Weapon (Demo Version)
17. Sugar, We're Goin Down (Patrick Stump Remix)
18. Dance, Dance (Lindbergh Palace Remix)