It seems that the PSN is down in some areas, with the icons in the Store not loading and friend's list avatars not appearing, instead being replaced by the default smiling icon. This seems to be happening in worldwide stores. Player profile cards also appear to be broken and users receive the errors (80719192) and (FFFFFFFF). Some players, at least in Australia, have also reportedly been logged out when trying to play games.
What's Sony doing with the PSN and the Stores? Your guess is as good as mine.