This is happening on only one client out of nearly 200, I have repaired,
reinstalled, moved the account to a different computer, removed the computer
from AD and ultimately removed the user and recreated it relinking it to it's
mailbox.
We run Exchange 2003 fully patched and DST patches applied.
Used tzmove.exe just to rule out any possible issues with timezone.
I have searched KB and everywhere else but have not found any clues to this
mystery.
The behavior is quite odd, a new entry on the calendar always defaults to
the present date and the external time does not match once you open the entry.
Server logs show nothing either.