I am having the exact same problem in Grove City, OH (near Columbus), except that the time here is 3 hours earlier than it should be. If I drive around town, the time displays fine in other localities, both larger and smaller. Also, the problem seems to be only with the HTC clock widgets...the Android clock widget works fine.
I posted about this on the Spring forums: Wrong time only on HTC clock widgets...?
I should say, too, that the problem isn't with my phone...my wife and I both got new Heros, and both are doing the same thing.
Finally! I have the same problem. The HTC clocks have my city right but it is 3 hours behind. I've tried "tricking" it but to no avail, still 3 hours behind!
I've given up using the HTC clock widget and just the Android one instead. And the Android clock doesnt cause any lag with the constant re-adjustments each time I return to the home screen.