One of the benefits of the Virtual Machine Additions for Virtual PC is that the time is automatically synchronised with the host machine. In most cases this is desirable, but I ran into a case recently where I needed to test something using an earlier date, and not realising this I wrestled with the time settings of the guest OS to no avail – it just kept resetting to the current time!
The process for disabling this feature (on an image-by-image basis) requires editing the VMC file and is detailed at Ben Armstrong’s blog.