UPDATE: It’s on! Fire up those consoles people.
As Sparky mentioned, PSN is finally beginning to restore its PlayStation Network functionality around the world. You can now download new firmware (I know how much you love those), log in, and change your password. And of course you can play games online, as well as various other online features; chat, trophies etc. No PlayStation Store however, and the Welcome Back package is yet to be released.
But the main thing is finally PlayStation users can play the games released over the last few weeks, like SOCOM: Special Forces, Brink, Mortal Kombat, and Portal 2. Mr. Kaz Hirai himself has a few words to say in a very presidential address.