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Euphoria14 said:

Extend all current PS+/XBL accounts by 1-week and extend all holiday PSN/XBL sales for anyone who may have missed out on them due to the service issues.

Nothing more is needed.

This seems completely reasonable.

With regards to compensation for missing service though, what did you agree to when you clicked OK on the terms and conditions?  Was there any guarantee of 24/7 service?  I'd be very surprised if they didn't have a clause covering planned and unplanned outages and downtime.

My feeling is that because both got hit it's less likely that any 'compensation' will be forthcoming.