DateTimePicker Value Different From Display?

Running: Win7Pro, VS2010Pro
Try this:
New project (WindowsApplication1), new form (Form1) with one DateTimePicker (DateTimePicker1), one TextBox (TextBox1) and one Button (Button1).
The DateTimePicker's properties changed are: ShowCheckBox: True, Checked: False

The code on the form is:
Public Class Form1
Public Sub New()
' This call is required by the designer.
InitializeComponent()
' Add any initialization after the InitializeComponent() call.
Me.DateTimePicker1.Value = DateSerial(2011, 1, 31)
[Code] .....