I came across one more (minor) bug:
When the TZ is GMT+1 and you sync from some invalid time (in my case the ROMs built date/time, which was sometime in 2007!), it syncs to one hour ahead. So for instance, phone is set to 14/02/2007 08:13, the current time is 01/01/2008 20:30, it will sync to 01/01/2008 21:30 (instead of 20:30).
Setting it back to one hour before, it will sync fine the next time...