UTC!
Those who are using dasBlog for their own blog and everyone reading my blog on the website or ever looked at my RSS feed may have noticed that all times in version 1.1 now show up as GMT (it's actually UTC, but for all practical purposes, the difference between UTC and GMT matters little here; GMT is the more common designation).
I am in the GMT+2 time-zone and so is my server, but for a site with apparently global reach in a global medium this doesn't really matter, I think. Most people know their time zone offset from GMT, but do they know their time zone offset from Germany?
Bad examples for using time are the sites of the two most popular "recent blog changes" services. Blo.gs, for instance, uses some undeclared random time zone and Weblogs.com, does at least say that the timezone is "Pacific" (but that's of course PDT now and not PST, or isn't it?). There's a standardized, daylight-savings-time unaffected global time and that's GMT (actually, it's UTC). I know that's a little incovenient for folks in GMT-8 or GMT+12, but it's a standard.