Been able to start up the launcher (after being unable to for 5+ hours), but patching at a snails pace - guess due to the number of people trying to do the same.
I wouldn't make that assumption. There is always a rush of people downloading after patches are made and it's never anywhere near this bad. Truth is, they just don't have the problem fixed yet. I just did another trace route and it still times out at perfectworld just like it's been doing all day.