It's been known that there is a specific bug in the MessagePad 2000 series that causes clock issues however it seems my older 130 has fallen victim to a problem as well.
I can set the date no problem until up to Dec 31, 2009 23:59 but the moment I try to change the date or time after then, I'm reverted back to November 1 1995. What makes it more puzzling is that if I let it tick over into 2010 on its own it won't do it until I modify the date, at which point it reverts back to 1995 again.
Google is yielding a lot of stuff for the 2000 series but for the most part says that there is no issue with the older 100 series (o at least no issue that sounds like my problem) so unless my search criteria is off, this is a lesser known bug.
Edit: It also likes to revert back to January 19, 1976, 1:27 PM