Boot Camp 1.1 fixed this issue; it was caused by the fact that Windows expects the hardware clock to be set to local time, while OS X (and just about all other *nix-based OSs) expects it to be set to Universal Time.
Oh, and this is NOT a Mac OS X issue, it's an issue with Boot Camp, right? That means it goes in the Alternative OS forum.
Alternative Operating Systems
Discussion and support of all non-Apple operating systems on Apple hardware via dual-booting, emulation, virtualization, etc. This includes use of Boot Camp, Virtual PC, Parallels, etc.
Maybe we need to tweal the text in the Mac OS X forum header to remind people of this.