Verified on kernel-2.6.32-196.el6.x86_64 and qemu-kvm-0.12.1.2-2.189.el6.

Steps:
1. Boot a RHEL6.2 guest. (guest kernel version: kernel-2.6.32-196.el6.x86_64)
2. Check dmesg info of guest:
# dmesg | grep kvm
kvm-clock: Using msrs 4b564d01 and 4b564d00
kvm-clock: cpu 0, msr 0:1c1df81, boot clock
kvm-clock: cpu 0, msr 0:28215f81, primary cpu clock
kvm-clock: cpu 1, msr 0:28315f81, secondary cpu clock
Switching to clocksource kvm-clock

It already uses the newer sets of MSRs (4b564d01 and 4b564d00) for kvmclock.

So, this bug is fixed.

Based on Comment 11. This issue can be reproduced on qemu-kvm-0.12.1.2-2.185.el6.

Boot the same guest and check the dmesg info of guest:

# dmesg | grep kvm
kvm-clock: Using msrs 12 and 11
kvm-clock: cpu 0, msr 0:1c1df81, boot clock
kvm-clock: cpu 0, msr 0:28215f81, primary cpu clock
kvm-clock: cpu 1, msr 0:28315f81, secondary cpu clock
Switching to clocksource kvm-clock

It is using the old MSRs 12 and 11.

    Technical note added. If any revisions are required, please edit the "Technical Notes" field
    accordingly. All revisions will be proofread by the Engineering Content Services team.
    
    New Contents:
Cause: A set if MSRs used by kvmclock was deprecated in favour of a new set of registers.

Consequence: qemu-kvm didn't support the new set of registers, and guests that used only the new set wouldn't be able to use kvmclock.

Change: the new set of kvmclock registers is now supported.

Result: guests that use only the new set of kvmclock registers will be able to use kvmclock too.

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory, and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

http://rhn.redhat.com/errata/RHSA-2011-1531.html