There is no problem with the Market and updates. If you want to see what updates are available simply go while in the Market to Menu, My Updates. If you have something coming, it will be there.
Sometimes the notifier will not tell you as fast as checking yourself will. But if it's in your download area you should see it.
Uhm, alleged all knowing one, I can't do that because it says there is a problem with the server. So yes, there is a problem. Now I know i'm not the only one having this problem, so before you go dismissing it and us, maybe you should check it out.