iCal export delivers All Day events for events which have a time set

Using 6.x-2.1 Calendar and 6.x-2.6 Views so pretty up to date. Have seen similar issues but most seem to relate to having incorrect Arg/Filters (which this one may be too)

The iCal export is causing my Mac to see the event as All Day. In Preview with one set of settings for iCal feed I was seeing this info

DTSTAMP;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622T165342
DTSTART;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622
DTEND;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622
RRULE;1245641161

which suggests to me that it is not capturing the 'time' - but not clear that this relates to Fields in the iCal feed display.

When I change the Filters and Arguments I get a different Preview eg
(and set it to not show Repeat settings)
UID:calendar:153:field_event_dates:0:6
SUMMARY:Post timezone change meeting
DTSTAMP;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622T171956
DTSTART;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090623T155000
DTEND;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090623T155000
END:VEVENT
END:VCALENDAR

but the iCal as it comes to my Mac shows similar to this in both cases

BEGIN:VEVENT
UID:calendar:150:changed:0:0
SUMMARY:Committee Conference calls (recurring) (test)
DTSTAMP;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622T172855
DTSTART;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622
DTEND;TZID=Pacific/Auckland;VALUE=DATE-TIME:20090622
RRULE;06/22/2009 - 15:26
END:VEVENT
END:VCALENDAR

And iCal in Mac treats it as an All Day event

Any advice on where else I should be looking, what tweaks i need to try for Args or is this a potential conflict of settings or a bug. THanks for any advice.

NB Current Args are
Action to take if argument is not present: Provide Default Argument
Default Argument Type = Current Date
Basic Validation
Date Field: Content: Event Dates (field_event_dates) - From Date (ie a CCK Field)