Time zone support boggles me and I think Apple's approach is counter-intuitive for that. It shouldn't be so hard.
I make my appointments in MST zone while I work in CST. Calendar (computer) is set to CST also. I travel to MST and find my appointments all shifted up one hour both on my computer and my iPhone. Time zone support is turned off. So just now I changed my computer's time zone in Calendar back to CST and that fixed my problem on the computer. Will that also fix the phone? Will I be seeing CST instead of MST?
I want my appointments to be for the time I entered them into Calendar. I shouldn't have to do anything to make that be the case (in my mind).
MacBook Pro (13-inch Late 2011), Mac OS X (10.7.3)
If you are traveling btween time zones, then turn Time Zone Support On. When you create an event, specify the time zone. Since the calendar knows what zone the event is in, it will get the time right whatever zone the computer is set to.