The latest system software update for the PS3 (2.00) was a pretty significant one; it added XMB customization and a handy Information Bar that sits in the top right of the screen. But according to Destructoid – and our own experience – this update seems to be causing some definite problems.
There have been a variety of complaints leaking out around the Internet, and most of them center on a much slower XMB, outright freezing, and even disc read errors and system failures. We haven't noticed any DREs or failures, but we have experienced the freezing issue from time to time. Ever since we downloaded 2.00, the console will sometimes freeze when attempting to load the XMB, which can be exceedingly annoying. Furthermore, these issues seem to affect the 60GB model most, which is the one we have. The official PlayStation forums are very much alive with users suffering from very similar problems after downloading update 2.00.
But as Destructoid discovered, there is a very easy fix for the slowdown and freezing issues. It's that damn Information Bar! It seems that adding this to the XMB is causing the problem, as simply disabling the new feature returns the system to normal running speed. This seems to work well, although we know this isn't a solution to those of you reporting DREs and system failures. However, and we're not saying these people are liars, but it doesn't seem feasible that a system update could cause a disc read error…we don't quite understand that one.
But anyway, if the only trouble you're having is some slowdown and freezing here and there, disable the Information Bar (select it in the XMB, hit Triangle and then "Disable") and you should be good to go.