The date used on the CVS -D option is converted to UTC but out CVS client and/or server doesn't handle it corectly. Here is the output of the cvs version command:
Client: Concurrent Versions System (CVSNT) 2.0.51d (client/server)
Server: Concurrent Versions System (CVS) 1.11.22 (client/server)

Here is part of the console output that contains the CVS command generated that is run on the slave windows box where the cvs version command output came from:
Building remotely on build2
[CWWinSLDR] $ cvs -Q -z3 -d :pserver:build2@cvs.company.com:/usr/local/CVSROOT co -P -r SLDR -D "Tuesday, March 30, 2010 2:42:55 PM UTC" cwks expat
cvs checkout: cwd=c:\hudson\workspace\CWWinSLDR ,current=c:\hudson\workspace\CWWinSLDR

What I think should be done is add a check box in the advanced section to disable UTC time conversion. This would then generate with current time.