Please don't use ntpdate via cron to keep your clock synced.
Most importantly for your system, it will change your clock abruptly, which can make log timestamps ambiguous. If your clock is fast (its time is ahead of the reference time), a sudden jump backwards can freak things out.
It also causes a sudden and heavy load on the time servers at the top of the minute, even more so at the common cron times (*, */2, */3, etc). You're much better off investing the ~1MB of RAM and running ntpd, pointing it at 0.pool.ntp.org, 1.pool.ntp.org, and 2.pool.ntp.org.
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(Also, the clock decoupling appears to be a side effect of the mainline Linux Xen implementation. I believe we're seeing the physical host's inherent clock drift. The virtualization is THAT GOOD.)