After further searching I came across a pretty good theory on what happend besides (HACKERS) and here it is,
The going theory is that the PS3 is storing some form of date in GMT, then modifying that to get whatever you see in the on-screen clock. That modification process seems to be fine--the system can take 2/28/2010, 9PM GMT, add four hours, and get 3/1/2010, 1AM random time zone.
What's apparently effed, as speculation goes, is when the internal GMT-tracking rolls over to 3/1. It's either not rolling, or rolling to 2/29, at which point a system tries to add/subtract from 2/29, which it can't do because the front-end calendar doesn't have a 2/29/2010, and $#!T explodes. Seemed to happen around 4PM PDT, which I think is 12AM GMT, so.
And the PS3 launched in 2006; it's hit 4 2/28s so far. 2007 and 2009 were odd-numbered years; 2008 was an even, and a leap year. 2010 is the first even non-leap-year the system's been around for. If some sort of base-level math is choking on itself, it may have ruled out the odd 2007 and 2009 successfully, but is convinced the even 2010 is a leap year (this part I'm less sure of, but is why leap year could theoretically come into play at some point.)
