After an uncomfortably long period, a patch for the PC version of Red Faction Guerrilla has hit. Currently the only way to get the patch is via Windows Live and if you are using the Steam version, it won't work without modification.
As a quick workaround for the impatient, you can locate the rfg_updater.exe with windows search and run it with the parameter /F followed by the path to your Steamed Red Faction Guerrilla folder. Alternatively you can download an unpacked version via RapidShare, either way this does not hinder Steam's association with the game and it works as expected. Details on the patch can be found here.