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this is so annoying i was planning to do lots of private games tonight :/ and i swapped from the 360 because of the red light makes it even worse! hopefully sony will sort it out soon.
but one good thing is you can still download demos and play them, i got the play tv demo which just downloaded. so that kinda good...
come on sony :'(
 
http://blog.us.playstation.com/2010/03/latest-info-on-playstation-network-status/

As you may be aware, some customers have been unable to connect to the PlayStation Network today. This problem affects the models other than the new slim PS3.
We believe we have identified that this problem is being caused by a bug in the clock functionality incorporated in the system.

Errors include:

*The date of the PS3 system may be re-set to Jan 1, 2000.

*When the user tries to sign in to the PlayStation Network, the following
message appears on the screen; “An error has occurred. You have been
signed out of PlayStation Network (8001050F)”.

*When the user tries to launch a game, the following error message appears
on the screen and the trophy data may disappear; “Failed to install
trophies. Please exit your game.”

*When the user tries to set the time and date of the system via the
Internet, the following message appears on the screen; “The current date
and time could not be obtained. (8001050F)”

*Users are not able to play back certain rental video downloaded from the
PlayStation Store before the expiration date.

We hope to resolve this problem within the next 24 hours. In the meantime, if you have a model other than the new slim PS3, we advise that you do not use your PS3 system, as doing so may result in errors in some functionality, such as recording obtained trophies, and not being able to restore certain data.
As mentioned above, please be advised that the new slim PS3 is not affected with this error. We are doing our best to resolve the issue and do apologize for any inconvenience caused.
For the latest status on this situation please continue to check either the PlayStation.Blog or PlayStation.com.

Just found this on the internet
 
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That maybe true, but I am guessing this slide shows a more worrying trend

squaretrade_1_29779_screen.jpg

interesting, i have all three and the only one to break was the wii.

Glad I haven't been too affected by my consoles being offline for a whole 6 hours ;)
 
I've had my PS3 for around 3 years and, apart from this, I've had only had 1 problem.
 
This bug is quite annoying though. My PS3 isn't online anymore so if it needs a firmware update to fix it's going to be a pain in the arse.
 
I think it only affects games that have Trophies available. So the old games are fine, FIFA08, Virtua Tennis 3 etc.
 
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