Instructions
If you have manually set your iPhone clock an hour forward, set it back now.
This update is only for iPhones with the 1.0.2 firmware. Don't proceed if you have a different firmware version.
Updating the timzone information unfortunately may mess with some appointments entered into the calendar on your phone for the week September 30 - October 7. You've possibly also entered appointments into your Mac when the timezone information wasn't correct so it's a big old melting pot! I recommend noting down the time of appointments so you can correct if necessary.
You should probably update the timezone information on your Mac, if you haven't already. See Glenn Anderson's patch.
You must have the Installer application installed to apply this update. On your iPhone open Safari and navigate to http://xk72.com/iphone/repos. It will prompt you to install a new AppTapp installer source - install the new source.
Open the Installer application; you should see the NZDT 2007 update application listed in the Featured section. Install the NZDT 2007 update application and then restart your iPhone, and your timezone will now be correct.
The time shown on your iPhone will now be the correct time.
Now you need to power down and restart your iPhone for the change to take effect.