On Karmic (9.10), my system time is currently off by 17 minutes, e.g. when I type date on the terminal I get
Thu Jan 6 16:22:29 CST 2011 while the correct time is 16:05pm. I went through the standard time set and cannot fix this.
If it were off by a multiple of an hour I would blame timezone or daylight savings time settings, but 17 minutes, I have no idea.