No, the servers most definitely pooped themselves. I was in the D'Morte Burial Mound helping a friend through the first bits of the Bloodlines quests when we got hit by some bad lag, 3-7 seconds between command and execution. At first it was only me getting hit, then my friend began lagging too. About 80% into killing the named the lag topped 10 seconds and I IM'd my friend "the servers are about to {expletive deleted} themselves" right as I saw the lovely character selection mod pop up. Guess I was right.
Damn shame, too, I was only a few minutes away from dinging 32. Ah well. Tomorrow.
Edit: Forgot to mention, the announcement SOE made was only in relation to logging in via the launchpad. Since I obviously wasnt using it (yay QuickLogin) it may have been related to the same problem, but it wasn't exactly the same problem.