It's something that will continue to happen until they release a patch, so for now I just suggest everybody that has freezing problems stop playing Red Dead cause as stated above this could damage your PS3 so just my little advice.
This. I was unfortunate to not be able to wait for a patch this time.
I too got these freezing issues.
For now, it happened once in Free Roam mode, but it mostly happens during the same mission, "Wild Horse Tamed Passions". I can play the first half of this mission without a problem but when Bonny and I are riding and meet the other dudes near Armadillo, the game/console always freezes in the curve about 2 secondes after meeting the dudes.
Tried this missions about 5 times, always the same freezing problem at the same place except for one time where I was able to get past this point but about 30 secondes later, I fell through the ground. I was stuck and when I pressed START, all I got was the red page with no menu option. Had to reboot the PS3.
Well, I de-installed the game file and re-installed it and now it seems to work. It didn't freeze during Wild Horses Tamed Passions and I even completed a few more missions. So far so good...
Rockstar Technical support just emailed me and this Is what they said.
Try a new PSN ID and start a new save game, does the crash still occur?
If this does not work and replacements keep doing the same then the hardware is likely to be the cause. Take the game back to the store where it can be tested on a known to be working console.
What a silly reply. What happened to "We are working on it" ?
Just happened to me in the middle of a multiplayer game, and I just picked this up last night.
EDIT: 80GB MGS PS3 with HDD upgraded to 250GB
Since this message a day later it stopped freezing. But something REALLY weird happened: My PS3 turned itself off and I wasn't able to turn it on for a few minutes. Even the power light went out when it shut off.
I opened my PS3 and found out that the power supply got really hot and that was the first that has EVER happened. I applied Arctic Silver on the GPUs a few weeks before and never had a problem with any game except this one.
Now i'm afraid of losing my 80GB BC PS3 because of my first game from Rockstar on PS3 and i'd hate to go back to 360 because of paranoia of any other games stressing out my PS3
....And to think that I was one of those who never thought a game could potentially break down a console