So I'm not the only one with the freezing after Waiting in-game
Twice last night I stood in front of a store, once in Windhelm, once in Whiterun, and used Wait for at least 5+ hours and when the time elapsed the system froze. The background music remained playing, but everything else with the game was frozen, and I couldn't bring the XMB up either. Had to manually reset the PS3 from the console.
I should add I've only had three system freezes since picking up Skyrim on release, so this is concerning if it was something in the patch that causes the freezing.
edit: I have auto-saving off for Travel, but I DO have auto-saving on during Wait. Maybe it has something to do with the auto-save?