I don't see Sony recalling 10M+ consoles to fix a chip that causes the console to stop working for 24 hours every 4 years. Perhaps they will release a patch that will at least allow you to play offline if the bug were to hit in 2014.
I think you have it backwards. If Sony did not fix this problem, the error would occur every year except for a leap year as it's the only year with a Feb 29th.
For me, I did not get the error as my PS3 (an original 60 gb version) is not connected to the internet and thus not connected to PSN. The only thing that happened was that the date was a day behind.
So, if Sony does not fix this problem, it'll happen again next March 1st. as 2011 is not a leap year.
Not sure that's correct, Norm. I bought my PS3 shortly after it was released in 2006. I didn't have the problem in 2007 or 2009, and those weren't leap years either. This, 2010, is the only time it's been an issue (though I didn't use mine, so it wasn't an issue for me).