Case solved temporarily, the thing I did was to put the "good" ntp servers:
$ hwclock && date
Tue 29 May 2007 07:57:28 PM CEST  -0.175399 seconds
Tue May 29 19:27:30 CEST 2007

ntp servers used (in this order in /etc/ntp.conf):
server chronos.csr.net 
server ntp2a.mcc.ac.uk
server ntp2b.mcc.ac.uk

The server doesn't have to be the closest to you, as long as it's precise, i.e. 
belongs to the so called "Stratum One" (closer to *precision*) group, you can 
find them here:
http://www.eecis.udel.edu/~mills/ntp/clock1a.html
http://ntp.isc.org/bin/view/Servers/StratumOneTimeServers

Most servers (if not all) in the "select ntp server" list in ubuntu are stratum 
one, but i believe ntp.ubuntu.com brakes that.
europe.pool.ntp.org wasn't a good idea either.

That's all I changed, and restarted the ntp daemon:
$ sudo /etc/init.d/ntp restart

-- 
time jumps ahead 10-20 minutes no matter the ntp server
https://bugs.launchpad.net/bugs/104091
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