PG COPY from version 8 to 9 issue with timezonetz

We use PG COPY to successfully in PG 8 to copy a database between two
servers. Works perfectly.

When the target server is PG 9, *some* fields of type timezonetz end up
garbled. Basically the beginning of the string is wrong:

152037-01-10 16:53:56.719616-05

It should be 2011-03-16 or similar.

In this case, the source computer is running Mac OS X 10.6.6 on x86_64
(MacBook Pro Core i5), and the destination computer is running Debian Lenny
on Xeon (Core i7).

I looked at the documentation on the copy command, and the PG9 release
notes, but I didn't see anything that might explain this problem.

We are using the WITH BINARY option. It has been suggested to disable that.
What are the down sides of that? I'm guessing just performance with binary
columns.

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