On my ipad (gen1, 3g, iOS4.3.3) the time is constantly 5-15 mins fast (depending on whether I set it manually or automatically). I don't have the same issue on my iphone 4 and don't recall having it on my iphone 3G either.
Anyone know why this happens and what the fix for it is?
Note: I've tried changing the settings from automatic to manual, and synching with my Mac (which has the right time). Also, setting to automatic actually results in the time being 15 mins fast instead of 5!