Apple seems to have a little problem with its iPhone alarm. First it was DST adjustment that sent things aloof and then January 1st rolls around and the alarm bug makes another appearance. Apple claims that the bug was supposed to be fixed on January 3rd, but the bug is still present.
Neowin has had first hand (read co-workers iPhone 4) experience with the bug still being present. The bug, according to Apple, was supposed to work itself out of the system, but unfortunately it has not. The bug only affects one-time alarms, so repeating alarms will continue to work. This embarrassing bug has cropped up its ugly face yet again, while not as much of an issue as the "antennagate" fiasco, it is quite annoying.
While it is not known when this bug will finally be patched, hopefully now Apple will probe the issue further to see if there are any future alarm issues. The bug will not cause the phone to explode or bring down the cell network it is running on, but missing a wakeup alarm can be detrimental to your employment.