Owners of the PlayStation 3 version of Black Ops are beyond frustrated, the experience offering nothing but connection issues, lag, and other issues that are ruining the online gameplay. As of early Wed. morning, a quick hotfix went into effect that should ease the issues, but not fix them entirely. Treyarch is still working on a more permanent update to fix the issues.
On a side note, the rumor going around that deleting your save data will immediately fix all of the online issues is entirely false. Even the idea is fairly ridiculous. However, some have fallen for it and lost their saves, the worst thing you could do in a case like this, desperate for a fix or not.