A week ago, Sony released new firmware for the PS3 that unfortunately messed with a lot of people's consoles, trapping them on a menu screen. Well, having pulled the offending firmware shortly afterwards, Sony now has a fix for those affected, as well as an updated firmware that hopefully works a lot better.
If you're trapped on the "ribbon" screen, you're going to need a USB stick with at least 168MB free space, and to download the new 4.46 firmware using a PC.
Sony has the full instructions here.
Those who heeded our advice and held off on updating their PS3 last week, you can go ahead and download 4.46 now. It should — fingers crossed — work better this time.