The system clock error was actually that the "fat" PS3s thought 2010 was a leap year. After 24 hours, once system clocks rolled to March 1st, service (such as connectivity to PSN, errors in trophy data, etc., etc.) was restored.
So, the issues have been resolved, by time, without a firmware patch. Here's what Sony said:
We are aware that the internal clock functionality in the PS3 units other than the slim model, recognized the year 2010 as a leap year. Having the internal clock date change from February 29 to March 1 (both GMT), we have verified that the symptoms are now resolved and that users are able to use their PS3 normally.It's hard to understand the programming error that caused this. The simple formula for determining if a year is a leap year is if the year is divisible by 4, it is a leap year unless the year is also divisible by 100 or 400.
If the time displayed on the XMB is still incorrect, users are able to adjust time settings manually or via the internet. If we have new information, we will update you through the PlayStation Blog or PlayStation.com.
We apologize for any inconvenience this may have caused.