I just installed opensuse 11.1, kde 4.3 64bit. I could not get the time to work for New York - there seems to be a bug - if I set the time zone to Montreal I get EST, if I set to New York I get UTC. Could not find a place to post bugs for the opensuse wiki. many thanks bm
If you are also booting with a windows OS, have you set the time to Local, that means it collects time from the BIOS, so you would not check the box UTC in the settings.
If you just use Linux check the UTC, (I use the NTP config also.)