I'm seeing the exact same symptoms.
My setup is slightly different... XV6700, Windows XP Pro.
Upgrade process the same.

I've also noticed that when I go to edit a recurring appointment on the PPC, the time shows correctly within the appointment, but not in the calendar view of the PPC or the alarms on Alarmtoday.

My only solution so far is to go and edit the single occurrence of the appointment and move it back an hour.