on a Dell loaded Dell Poweredge running 2.2.5-15smp. "date" shows the correct ime."hwclock --show" also shows the correct time. When I do a "ps -ef", though, the stime (the start time of a process) is off by n hour after a reboot and after a couple of days is off by a whole day. I have two machines that exhibit this behavior. Both have been rebooted many times.
The problem doesn't exist in the current 6.2 beta.