[EMAIL PROTECTED] (Jason Priebe) writes:
> Note that it uses timeofday() for the default for one timestamp and
> "now" for the default for the other (we've been experimenting with the
> differences between the two, as we've seen some serious drift in the
> values returned by "now" -- but that's another story).

Uh, have you read 
http://www.postgresql.org/docs/view.php?version=7.3&idoc=0&file=functions-datetime.html#FUNCTIONS-DATETIME-CURRENT

particularly the point about

  It is important to realize that CURRENT_TIMESTAMP and related functions
  return the start time of the current transaction; their values do not
  change during the transaction. timeofday() returns the wall clock time
  and does advance during transactions. 


                        regards, tom lane

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