Setting timezone: is it bug or intended? - Mailing list pgsql-bugs

postgres=# set timezone='+03';
SET
postgres=# select now();
               now
-------------------------------
  2011-03-18 11:20:29.696671+03
(1 row)

postgres=# set timezone='+03:00';
SET
postgres=# select now();
              now
------------------------------
  2011-03-18 05:20:35.46008-03
(1 row)

(checked with 8.4 and 9.0)