In a post on Eurogamer, there is evidence of how hackers can use your personal information (possibly lifted during the original hack or gained by simple social fishing exercises) to access your PSN account and use it for naughty purposes.
Its all a bit technical, and since I haven't had an email from Sony about reinstating my account, I'm as much in the dark as everyone else. All I've got is a little PSP that I download some games too from time to time, is it really too much to ask?
The result of this is that the PSN site is down again, and needs to be fixed before it can come back up. Presumably if you haven't changed your password yet, you're still stuffed.