The wait is over; Sony announced a "phased restoration by region of PlayStation Network and Qriocity Services" starting today.

Things being Restored,

Sign-in for PlayStation Network and Qriocity services, including the resetting of passwords

Restoration of online game-play across PS3 and PSP

Playback rental video content, if within rental period, of PlayStation Network Video Delivery Service on PS3, PSP and MediaGo

Music Unlimited powered by Qriocity, for current subscribers, on PS3 and PC

Access to 3rd party services such as Netflix, Hulu, Vudu and MLB.tv

'Friends' category on PS3, including Friends List, Chat Functionality, Trophy Comparison, etc

PlayStation Home

This phased restoration will be on a country by country basis beginning in the Americas, Europe, Australia, New Zealand, and Middle East.

While you wait, a new firmware update for the PS3 is available right now. While it'll seem like it does nothing, Firmware 3.61 will force users to change their passwords when the PSN is live again.

Links here!

http://blog.us.playstation.com/2011/05/14/play-on-%E2%80%93-psn-restoration-begins-now/

http://blog.us.playstation.com/2011/05/14/kazuo-hirai-playstation-network-relaunch-announcement/

Thanks Legend.

After checking the european blog, both of them have similar articles. As for the Kazuo Hirai PSN relaunch announcement, you can watch this here by copying and pasting this link.

http://www.youtube.com/watch?v=2tHl6O5Sp8w