[Resolved 5:30PM PST 08/09/07]
All of the servers have been moved to different network hardware and will be coming back online as normal.
[Update 5PM PST 08/09/07]
One third of the affected servers have been moved off of the malfunctioning network hardware and should be coming back online shortly. Operations is still working on the other portion and hopes to have all of the regions re-enabled as quickly as possible.
Approximately 200 regions are being taken offline so that their network connections can be moved to different hardware. All region data will be saved. Some regions will come up more quickly than others, but we expect the entire process to be complete in 3-4 hours. We will update with progress as the moves continue.