The output on the serial monitor looks like this:
16:31:58 9/1/2012
16:31:59 9/1/2012
16:32:00 9/1/2012
16:32:01 9/1/2012
16:32:02 9/1/2012
16:32:03 9/1/2012
16:32:04 9/1/2012
16:32:05 9/1/2012
That's just a snip of course, that's what it prints every second.