[oclug]Time for Linux -- hwclock, ntpd, etc.

[Arcana]

I'm wondering if anyone has any pointers about keeping accurate time in Linux.

First... can anyone explain what the differences are, in terms of accurate 
timekeeping, between software and hardware?

I'm using a Bering LEAF distribution with an NTPD daemon-client on it to sync 
up with NRC for standard time.  Would it be better to sync the hardware clock 
to system time, or the system time to the hardware clock?

Today, when I started up my Linux machine, it ended up being about 5 hours 
behind.  Coincidentally or not, that's GMT.  I've found the flag to switch 
UTC on in Redhat, so I hope that will fix the problem.

I'm also wondering if compiling in "Store System time in UTC" in the Kernel (I 
run a 2.4.20) and activating the real-time click driver may have effects on 
keeping system time.

Finally it seems that Redhat syncs the system time to hardware clock when I 
shut down (I shut down my machine every night because I don't use it when I 
sleep).  If I run NTP and sync it with a timeserver, would it be better to 
sync the hardware clock to the system time on shutdown?

Thanks,

-- 
-- Arcana