Being based in Perth (GMT +8), I have always thought it made sense to have our servers running in the Australia/Perth timezone (rather than UTC).
This makes sense for many reasons, mostly that when we set up a cron job, we can use local time (rather than UTC), which makes life very easy.
Recently our Rackspace Cloud servers and Amazon EC2 instances (both running CentOS) were rebooted after updating the glibc package, which caused each server’s timezone to revert back to UTC.
To set the timezone, I had always created a /etc/localtime symbolic link pointing to /usr/share/zoneinfo/Australia/Perth, however it turns out that there is one other thing that has to be done in order to make the timezone setting be persistent across updates and reboots.
…if Amazon is to have a presence in Australia, the first step would be adding an Australian-based CloudFront edge location. This would help them evaluate costs, and if things work out then Amazon could introduce their other services such as EC2 and S3.