I've written an "apmd_proxy" script that resolves the problem with the date and
with the hibernation thing.  I stress tested it by loading bunches of X and
networking apps and suspending from the X console (usually doing hangs the
machine about 50% of the time on restart).
Here's the script:

#!/bin/bash
#
# apmd_proxy      This shell script takes care of starting and stopping
#                 various programs and services prior to suspending and
#                 resuming.
#

# Source function library.
. /etc/rc.d/init.d/functions

# Source networking configuration.
. /etc/sysconfig/network

SUSPEND_DATA=/var/run/apmd.suspend.data

# See how we were called.
case "$1" in
  start)
        # Start daemons.
        ps ax|egrep -v 'ps ax|egrep|perl' |perl -n -e '$_ =~ /^\s*(\d+).*/;print
"$1\n";'> $SUSPEND_DATA
        ;;
   stop)
        # Stop daemons.
        [ -e $SUSPEND_DATA ] && rm $SUSPEND_DATA
        ;;
suspend)
        # Suspend requested.
        #[ -e /tmp/suspend.log ] || touch /tmp/suspend.log
        #echo "Stating Suspend (`date`)" >>/tmp/suspend.log
        #ps ax > /tmp/presuspend
        for i in `ps ax|egrep -v 'ps ax|egrep|bash|perl|kill|cardmgr|apmd' |perl
-n -e '$_ =~ /^\s*(\d+).*/;print "$1\n";'`; do
         # echo -n `ps ax|grep $i`>> /tmp/suspend.log
         # grep $i $SUSPEND_DATA >/dev/null || echo 'STOPPED' >>
/tmp/suspend.log
         # grep $i $SUSPEND_DATA >/dev/null && echo 'RUNNING' >>
/tmp/suspend.log
          sync
          grep $i $SUSPEND_DATA >/dev/null || kill -STOP $i
        done
        #echo "System quiet... suspending (`date`)" >> /tmp/suspend.log
        #ps ax > /tmp/postsuspend
        sync
        ;;
 resume)
        # Resume requested.
        #[ -e /tmp/suspend.log ] || touch /tmp/suspend.log
        #echo "Stating Resume (`date`)" >>/tmp/suspend.log
        /sbin/hwclock --hctosys
        #echo "Time Corrected (`date`)" >> /tmp/suspend.log
        #ps ax > /tmp/preresume
        for i in `ps ax|egrep -v 'ps ax|egrep|bash|perl|kill|cardmgr|apmd' |perl
-n -e '$_ =~ /^\s*(\d+).*/;print "$1\n";'`; do
        #  echo -n `ps ax|grep $i`>> /tmp/suspend.log
        #  grep $i $SUSPEND_DATA >/dev/null || echo 'RESTARTING' >>
/tmp/suspend.log
        #  grep $i $SUSPEND_DATA >/dev/null && echo 'RUNNING' >>
/tmp/suspend.log
          sync
          grep $i $SUSPEND_DATA >/dev/null || kill -CONT $i
        done
        #echo "All processes restored (`date`)" >> /tmp/suspend.log
        #ps ax > /tmp/postresume
        ;;
standby)
        ;;
      *)
        echo "Usage: apmd {start|stop|suspend|resume|standby}"
        exit 1
esac

--------------------------
  You can remove the echos... they are simply the debugging info (and slow
things down a bunch).
  The idea is that when apmd is called, all the things that come before it are
"safe" and should not be touched (things like init).  You can also add things to
the egrep that should be ignored (like the bash shell that is running the script
:^).
  I'm sure it could be cleaned up a lot, but it's a quick hack that works and I
thought it would give y'all a starting place at a fix for hibernating machines
like mine.
  BTW, it also fixes the time problem with a call to hwclock.
  I'm not sending this to the apmd developers.  I figured y'all would clean it
up a bit and you would be donating the cleaned copy.
  Don

Have a look at the apmd package in rawhide - it solves the hibernation problem
and can work around some hardware problems (such as broken harddisks that need
hdparm settings after a suspend-to-disk).