Say that three times fast lol

PS3Hax has confirmed that a PSN update completely removes all proxy and DNS bypasses that were enabling users to stay on firmware 3.41 and still access the PSN store. As of now, if you want to access the PSN store (and even play some PSN games) you absolutely need to upgrade to 3.42 which completely removes all Jailbreaks functionality.

They also are claiming that 3.42 is buggy, however both of my PS3’s seem to be working fine right now. I have seen other reports as well.