This bug can still be reproduced with the latest xen package: xen-3.0.3-90.el5. I verified this bug by installing 32-bit guests on 32-bit dom0, and the problem is still exist.
An advisory has been issued which should help the problem
described in this bug report. This report is therefore being
closed with a resolution of ERRATA. For more information
on therefore solution and/or where to find the updated files,
please follow the link below. You may reopen this bug report
if the solution does not work for you.
http://rhn.redhat.com/errata/RHBA-2009-1328.html
Created attachment 338934 [details] Introduce the userland side of 'no missed-tick accounting'