Ok, thanks for the help anyways... I'll try restoring the Ps3 tonite and reinstalling the latest version... if I get onto something, I'll post it here.
Later.

BTW... while dealing with the problem and tsting different possible solutions, the game (COD4) was read by the PS3 as Corrupt... could this have something to do with it? I just bought it yesterday at a small retail store, Could it be the game? Although I did play it for about 4-5 hours, in 2 different sessions.