Tom,
Check out: https://openacs.org/forums/message-view?message_id=131332
I am doing this now for a site that will take reservations worldwide for resources based on the local time of the resource.
It sure ain't pretty. I mainly punted on the PG 7.2.3 functions -- they do not see to be a complete timezone algebra in the mathematical sense. (Or just not very clear.)
I end up doing a lot of string manipulation.
Worse is tonight's showstopper -- maybe I am too tired, but the data in timezone refs seems to be incorrect. More on that in the next post.
Also, speak to Simon Carstensen, I think he is doing some work in that area.