I have a bizarre problem with Outlook 2002 (XP). It displays the "Received:" time for all emails to my DreamHost IMAP accounts 20 minutes off. (e.g. an email received at 12:53AM according to the headers would show up as 12:33AM in Outlook's "Received" column)
I've tried Outlook 2002 on two machines, same problem. Yet with non-DreamHost accounts, it displays the correct time. Other IMAP clients (webmail, Thunderbird) have the correct time too.