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Additional news is starting to trickle in. Users on a legit 3.50 firmware are able to sign into PSN without any issues, it seems to only be affecting the jailbroken consoles so it looks like this may have been patched. Please keep checking this main post as i will try and update it with as much info as i get.
It does look like there is scheduled maintenance going on in some world regions but that does not account for why people in NA are getting errors. I figure i will post this as well so we have all the info possible. Before we totally freak out, lets also assume this MAY be related to maintenance.
During the maintenance, you will be unable to access the following services:
* PlayStation Store on PS3 and PSP.
* PlayStation Network Account Management.
* PlayStation Network Account Registration.
In addition, you will not be able to sign in to PlayStation Network from eu.playstation.com. If you wish to play online during the maintenance, please ensure you sign in to PSN before 16:05 on Thursday 18 November 2010 GMT (about 11:05 EST).