Yeah, it's bad. Each state has certain requirements when a data breach such as this happens, as well as each country. The thing is is that this breach is potentially so large, the regulations simply can't be met. I wouldn't even know where to begin if Sony came to me with this. At my firm we joke that when a data breach happens, it "blocks out the sun" for us for a few weeks, and those are for data breaches that are FAR, FAR, FAR smaller than this. This is going to be a nightmare.
This will prove to be an interesting case study, at the very least, and without question, laws and regulations will have to be drafted and/or amended because of this. I'm very curious as to what they do...