Really sounds like some time zones aren't set up properly, somewhere. First off, make sure your computer and google calendar online are set to the same time zone (PST in your case). Then check the phone itself. Make sure the time zones are all set the same for everywhere on the phone (I don't have the incredible, but on my Nexus S time settings are on the phone itself and there is a separate option in the calendar settings for the time zone). It's possible you have the time zone set correctly on one part of the phone but not another.