Same issue here:
Just recently went to the Market and into "My apps" to see if there were any updates and found it saying "Applications and games owned by this account will appear here." with buttons to Browse apps and Browse games.
When I actually searched for purchased and downloaded games on my phone, they showed up and showed as either installed or needing updates. Updates installed and ran fine. Newly downloaded apps work fine, but do NOT show up in the My apps list.
I tried clearing the Market cache and data with no luck. Tried uninstalling the update with no luck. The problem spontaneously resolved a day later to my relief, then reappeared a week later to my frustration! This problem now continues into the second week.
A few other things I tried with mixed results:
1) Reset the phone to factory settings. When I entered my google account into the phone and went to the market, it had rolled back to the earlier market version, but this time it DID show my purchased apps! Once the market updated, though, it went back to the problem described above. Uninstalling the update does NOT resolve the problem (and wouldn't help anyhow as it automatically updates anyhow...).
2) Created a new google account and entered that. Going to the market and switching to that account shows the basic (system) phone apps and anything I've downloaded from this account as normal!
So, it appears to be an issue with my original google account AND the updated version of the Market together.
Thanks in advance.
-Ravi