Ntpd never synchronizes here either. /var/log/daemon.log may indicate that it starts too early, here is a snippet which I hope is enough to determine what the problem is:

Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Will activate connection 'eth0'. 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Device eth0 activation scheduled... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) started... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 1 of 5 (Device Prepare) scheduled... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 1 of 5 (Device Prepare) started... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) scheduled... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 1 of 5 (Device Prepare) complete. 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) starting... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) successful. 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 3 of 5 (IP Configure Start) scheduled. 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) complete. 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 3 of 5 (IP Configure Start) started... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <WARN>  nm_dhcp_manager_begin_transaction(): dhcdbd not running! 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) failure scheduled... 
Apr  2 07:18:58 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 3 of 5 (IP Configure Start) complete. 
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Found user 'avahi' (UID 106) and group 'avahi' (GID 114).
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Successfully dropped root privileges.
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: avahi-daemon 0.6.20 starting up.
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Successfully called chroot().
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Successfully dropped remaining capabilities.
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: No service file found in /etc/avahi/services.
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Network interface enumeration completed.
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Registering HINFO record with values 'I686'/'LINUX'.
Apr  2 07:18:59 davidUbuntu avahi-daemon[5336]: Server startup complete. Host name is davidUbuntu.local. Local service cookie is 3653946212.
Apr  2 07:18:59 davidUbuntu NetworkManager: <info>  Activation (eth0) failed. 
Apr  2 07:18:59 davidUbuntu NetworkManager: <info>  Deactivating device eth0. 
Apr  2 07:18:59 davidUbuntu NetworkManager: <info>  SWITCH: no current connection, found better connection 'eth0'. 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Will activate connection 'eth0'. 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Device eth0 activation scheduled... 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) started... 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 1 of 5 (Device Prepare) scheduled... 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 1 of 5 (Device Prepare) started... 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) scheduled... 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 1 of 5 (Device Prepare) complete. 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) starting... 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) successful. 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 3 of 5 (IP Configure Start) scheduled. 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 2 of 5 (Device Configure) complete. 
Apr  2 07:19:01 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 3 of 5 (IP Configure Start) started... 
Apr  2 07:19:01 davidUbuntu ntpd[5434]: ntpd 4.2.4p0@1.1472-o Thu Oct  4 20:58:45 UTC 2007 (1)
Apr  2 07:19:01 davidUbuntu ntpd[5437]: precision = 2.000 usec
Apr  2 07:19:01 davidUbuntu ntpd[5437]: Listening on interface #0 wildcard, 0.0.0.0#123 Disabled
Apr  2 07:19:01 davidUbuntu ntpd[5437]: Listening on interface #1 wildcard, ::#123 Disabled
Apr  2 07:19:01 davidUbuntu ntpd[5437]: Listening on interface #2 lo, ::1#123 Enabled
Apr  2 07:19:01 davidUbuntu ntpd[5437]: Listening on interface #3 lo, 127.0.0.1#123 Enabled
Apr  2 07:19:01 davidUbuntu ntpd[5437]: kernel time sync status 0040
Apr  2 07:19:01 davidUbuntu ntpd[5437]: frequency initialized -129.365 PPM from /var/lib/ntp/ntp.drift
Apr  2 07:19:02 davidUbuntu NetworkManager: <info>  Activation (eth0) Beginning DHCP transaction. 
Apr  2 07:19:02 davidUbuntu NetworkManager: <info>  Activation (eth0) Stage 3 of 5 (IP Configure Start) complete. 
Apr  2 07:19:02 davidUbuntu NetworkManager: <info>  DHCP daemon state is now 12 (successfully started) for interface eth0 
Apr  2 07:19:03 davidUbuntu NetworkManager: <info>  DHCP daemon state is now 1 (starting) for interface eth0 
Apr  2 07:19:03 davidUbuntu ntpd_initres[5470]: host name not found: se.pool.ntp.org
Apr  2 07:19:03 davidUbuntu ntpd_initres[5470]: couldn't resolve `se.pool.ntp.org', giving up on it
Apr  2 07:19:03 davidUbuntu ntpd_initres[5470]: host name not found: time1.stupi.se
Apr  2 07:19:03 davidUbuntu ntpd_initres[5470]: couldn't resolve `time1.stupi.se', giving up on it
Apr  2 07:19:06 davidUbuntu dhclient: DHCPREQUEST on eth0 to 255.255.255.255 port 67
Apr  2 07:19:06 davidUbuntu dhclient: DHCPACK from 192.168.0.1
Apr  2 07:19:06 davidUbuntu avahi-daemon[5336]: Joining mDNS multicast group on interface eth0.IPv4 with address 192.168.0.200.
Apr  2 07:19:06 davidUbuntu avahi-daemon[5336]: New relevant interface eth0.IPv4 for mDNS.
Apr  2 07:19:06 davidUbuntu avahi-daemon[5336]: Registering new address record for 192.168.0.200 on eth0.IPv4.