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I have the same issue. My webserver is one hour different from my own timezone.
I have tried
{$smarty.now|date_format:"%A, %B %e, %Y| %I+1:%M %p"}
but then the time just shows like this
11+1:43 AM
so that is no good.
There must be a way to calculate it, right?
I have also tried to change the time zones in the admin. There is the server time zone setting and the main time zone setting, but they do not seem to affect the $smarty.now
Any help would be greatly appreciated.