Olney - 2:37 am on Nov 8, 2007 (gmt 0)
I'm in Japan & when I run reports the time the reports were run is in US time. I'm using an English interface but the timezone is set correctly.
It might be connected with the new Number & Language settings but if you choice English, the system only lets you choose the US.
There's a lot of PPC operators that prefer to use Adwords in English or other languages that might not be in the most obvious country associated with that language.