Up to this point, all firmware updates for the PS3 have been very reliable. None of them have caused any unforeseen issues – at least, to our knowledge – and we've heard virtually no complaints from users who religiously download any new update. However, such a streak simply can't last forever, as it seems there have been numerous complaints regarding the latest update; firmware 1.92 .
According to PS3Fanboy, the complaints are numerous and specific: after downloading 1.92, users have not been able to connect to the PlayStation Store, Network, or Warhawk servers. For some, this problem occurs immediately after completion of the download; for others, it happens randomly a day or two later. The site contacted Sony's Senior PR Manager, Patrick Seybold, for an official reply to these issues, and he has confirmed that Sony is indeed aware of the problem. They're working on a fix even as I type this, and when they've found a solution, we'll be sure to let you know.
Nobody likes being disconnected from the Internet, especially if you just picked up Warhawk or had planned to do a bunch of downloading at the Store. But at least this firmware update didn't brick the entire system, or something equally catastrophic.