It is frustrating, but it means the game is good and popular. They already announced today that they are implementing increases to server capacity that should roll out in the next week. This means more players allowed on servers. For now, the 1017 is a temporary fix to keep more players from logging in than the servers can handle. I'm in the same boat, but I know the high population is a good thing and the fact that they have posted multiple messages regarding this issue and letting us know how they're fixing it is much nicer, and faster, than anything Blizzard ever did at WoW launch.

P.S. - WoW launch had the exact same problems for the same amount of time. Just be patient, and this game is going to continue to kick ass.