I was having the same freezing issues on loading... easy solution: log out of PSN. Not a single freeze again in hours of play.
Weirdly if you get the freeze and try to quit the game, it actually panics the ps3 and makes it watchdog reset. First time I've had anything go weird on my ps3.
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This is what I'm talking about...
http://www.ps3fanboy.com/2008/04/30/are-you-having-technical-issues-with-gta-iv/
I was having the same freezing issues on loading... easy solution: log out of PSN. Not a single freeze again in hours of play.
Weirdly if you get the freeze and try to quit the game, it actually panics the ps3 and makes it watchdog reset. First time I've had anything go weird on my ps3.