SnagWire: The panic subsides as of 2:11 AM PT time Xbox Live has been enabled for 360 users. Some of the Microsoft Support Forums were getting pretty chatty, but luckily the task only took a couple more hours than originally planned.
Major Nelson has updated his blog with a short post informing everyone we are a go:
“Ok, you can stop finding things to keep you busy…LIVE is back. I am happy to report that the Xbox Live Maintenance is now complete which means that Xbox LIVE is back online, and you can now resume posting in the Xbox forums. Thanks again for your patience during this maintenance.”