After Sony's warning, the PlayStation Network seems to be back online and fully operational, according to reader Larry Gallant:
I wanted to let you guys know that the phat PS3s are now able to login to the Playstation network and the clocks are working. I was able to login at 6:28 PM eastern time in the Boston, MA USA area.
No official word from Sony yet, however, so proceed with caution.
Update: Multiple readers are reporting that things are fixed, and they now can use their PS3s normally.
Have you been able to connect to the network? Tell us in the comments. [Thanks Larry]