A patch for WipEout HD is now available to download in Europe. Patch v1.1 solves some of the bugs that were reported with the game. Unfortunately, if you played the game while having more than 50 friends, then it is possible that your game savedata has been corrupted and will need to be deleted. Once the update is installed, users should delete any savedata and then launch the game to create a new profile. Luckly, any trophies that you have unlocked will remain on your PSN profile.
The patch is currently available in Europe only, but one for North America will most likely be released soon. The official comment on the update is:
"If at any time you have had over 50 users in your friends list whilst playing Wipeout it is possible that your saved data has become corrupted.
If this situation applies to you, we strongly recommend once this update has installed you quit the game and delete your saved data using the saved data utility in the XMB, then relaunch the game to create a new profile."