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When this happens on Windows Machines it seems to be with Day Light Savings. Have a look at that
 
I had the same problem. It does have to do with the time zone setting on the phone. On your iPhone go to Settings> General> Date & Time. Under the Calendar section you should see a place where you can adjust the Time Zone settings.

Adjusting these settings solved the problem for me. Hope this helps!
 
No prob. I also thought it was weird that I only had the problem after the time change. Like you, everything was fine before. :confused:

Glad I was able to help.
 
Mobile Me 1 Hour Off

I had the one hour off ical events on my iphone 3GS too. I sync over mobile me. I dug around and here's what fixed it: Settings>Mail, Contacts, Calendars>Scroll all the way down and make sure the time zone is correct. I changed that and it fixed my cal in an instant.
 
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