Latest PS3 Firmware Update Requires Hard Disk Wipe to Fix

Earlier today Sony launched firmware V2.40 for the PS3 which is mandatory for online play. Too my horror after installing the update my console wouldn't boot, and this appears to be a not uncommon problem affecting PS3's of all age and model. Although there is rampant fanboy denial over at the official Playstation forums, the Kotaku article details issue and has a suggested solution if you don't mind yanking your PS3's hard drive

http://games.slashdot.org/article.pl.../07/02/2122217