Some thoughts on what I think would be helpful (to me anyway <!-- s;-) --><img src="{SMILIES_PATH}/icon_e_wink.gif" alt=";-)" title="Wink" /><!-- s;-) -->...
When creating an event:
i) When entering an event it would be desirable to have a field that allows the event creator to enter the timezone for the event. Ideally, this would be default to the user timezone, (taken from "Joomla User Manager: Edit User: Basic Settings: Time Zone"

, but it could be preset to the current timezone of the server. It would be good if this could be changed by the creator for each event. In other words, each event can be created with time zone information. However, whether this is configurable or not, it really should show the timezone for the event.
When displaying events:
i) it would be desirable for the Events Calendar and the detailed view for each event to show the timezone that is being used. Again, this is probably best to default to the user time zone, (taken from "Joomla User Manager: Edit User: Basic Settings: Time Zone"

.
It is questionable whether a user should be able to change the timezone for event display in JEvents itself; I think this is best achieved by the user changing their own timezone in their user profile and JEvents correctly reflecting this change when displaying events. However, it is essential that the start and end times (and dates) of each event are displayed in a "known and shown" timezone.
Here are examples of what I would like to do:
i) I am in the UK: I want to create an event for a 1 hour conference call starting at 10:00am Japan Standard Time on Thursday mornings held every 2 weeks. (NB Japan does not implement daylight saving time clock changes). I would like to see this displayed correctly in my calendar wherever I am in the world. I am quite happy to change my timezone in my user profile, but it'd be really helpful IF the timezone for the event calendar is can be displayed on the event calendar as a reminder. The event displayed should include the 1 hour time shift when daylight savings comes into effect e.g. from GMT to BST.
ii) I want to create a 2 day conference schedule that includes Webinar access for those that cannot attend in person. The conference may be in Boston, but I will create the schedule while in the UK, and I will have remote attendees from California, Japan, China, India etc. I would like the displayed information to show the correct time zone information for the attendees
( In the current implementation what timezone is used when an event is created? Is it the server timezone, the user timezone, UTC, or something arbitrary? Does a repeating event goes across a change from winter time to summer time correctly reflect this in an invitation? )