When I bought the camera, I set it to my local time zone.
Then I went on this big vacation, where I travelled to these different places, in order:
From Oslo (DST) ...
Singapore
Melbourne
Singapore
Nepal
Tibet
Singapore
London
... and back to Oslo (not DST when I returned)
So I found that the easiest was to just set the clock to UTC (same as the good old GMT), which gives me no worries, not even about daylight savings time etc.