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Due to the mass amount of threads and posts asking about whether or not they're going to get banned, I figured I'd make this thread to basically try and sum it all up for people that have yet to find out.
No one knows for sure. The major reason discussion concerning Playstation Network banning increased is because of a simple Twitter conversation between someone and '402', the community manager of Infinity Ward, Robert Bowling. Bowling did hint that something was going to be done, in particularly the Prestige 10 Hack.
Some people seem to think that nothing is going to be done about this, and that is was merely a bluff by Bowling in hope to decrease the hacker population on Modern Warfare 2. Some people argue that Infinity Ward couldn't possibly ban everyone that uses this hack, for that would require them to basically scan the leaderboard from bottom to top. Some people have come to the conclusion that only those with extremely high, and unfathomable stats, despite their play time, will be reset ( and possibly banned from MW2 on that account ).
Others are taking this conversation more seriously, fearing that bannings are going to begin, and that everyone who carried out the hack will be subject to the consequences. I've done some looking around, and some people argue that Infinity Ward may have a system or process in which they can identify hackers. There have also been other points mentioned in which are needless to really mention due to being rather vague.
Again, no one really knows which of the above it could be. So, if you're planning on asking the question: "Will I get banned?", merely consider both sides of this, and deem for yourself as to which you believe.
My personal philosophy is that the best course is likely to de-prestige. Chances of getting kicked off the leaderboards, and Modern Warfare 2 for that matter, will be greatly decreased if you are a lower prestige. If you're still worried, consider your days played, and go to a prestige in which you think looks legit.
I hope this serves as a somewhat explanation if you're still worried. If you're still on ends, you can always simply wait until action is / is not carried out and something is concluded or confirmed until making your move.
Remember to thank this post if it assisted you!