That's correct PS3 owners, Sony has given the signal and you may now turn your consoles back on without fear. The internal clock issue that was keeping the PS3 from connecting to the network has fixed itself, correctly adjusting after the the date changed. This begs the question, what exactly was Sony doing all day? Here's the post direct from Sony:

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. 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.
This entire situation is undoubtedly going to create some massive headaches for Sony. Who would have thought that an issue with the internal clock would completely shutdown 90% of PS3s for an entire day? Is this going to happen again next year, or in four more years? Is the regular leap year going to produce similar problems? Are there any lasting errors, such as lost data and trophy information? Sony has some questions to answer, so I hope that's what they do with their time tomorrow. Make sure and check out our previous coverage of the PlayStation Network apocalypse here and here.