strange timezone problem

Before I open a bug on this, I wanted to do a sanity check, since there 
may be something I'm just not seeing.

I'm using PostgreSQL 8.2.3 and seeing this behaviour with timezones:

select create_date from article_lead;
        create_date
---------------------------
 2007-11-04 16:35:33.17+00
 2007-11-04 04:35:36.09+00
 2007-11-05 04:35:36.38+00
 2007-11-05 16:35:36.67+00
(4 rows)

select create_date from article_lead where create_date >= '2007-11-03 
17:00:00.0' and create_date <='2007-11-04 16:00:00.0';
        create_date
---------------------------
 2007-11-04 04:35:36.09+00

Shouldn't that second row have been in the results of the second query?  
(create_date is of timestamptz type).

Also noted this oddity, though it may be unrelated:

set TimeZone='America/Los_Angeles';
select create_date from article_lead;                                                                                      
create_date
---------------------------
 2007-11-04 08:35:33.17-08
 2007-11-03 21:35:36.09-07   <-- why 07?
 2007-11-04 20:35:36.38-08
 2007-11-05 08:35:36.67-08

   Nick