Well ...
I enabled all of the logging features, cleared the existing logs, restarted the router. There are no entries in the logs indicating any form of attempt to obtain time from an NTP server ... and yes, the options are enabled as per my original post.
Here's a copy of the log post-startup; note that personal identification information has been search/replaced.
Jun 4 16:52:15 debug Debu: Joining group 224.0.0.251 upstream on IF address 999.999.999.999
Jun 4 16:52:15 debug Debu: Route activate request 999.999.999.999 to 224.0.1.24 is from myself, Ignoring it !
Jun 4 16:52:15 debug Debu: Joining group 224.0.1.24 upstream on IF address 999.999.999.999
Jun 4 16:52:14 debug Debu: Leaving group 224.0.1.24 upstream on IF address 999.999.999.999
Jun 4 16:51:54 info SMTP client send Email successfully
Jun 4 16:51:51 info [email sent to: sysmail@mydomainname.com ] Monday, June 04, 2012 16:51:51
Jun 4 16:51:49 debug Debu: Route activate request 999.999.999.999 to 224.0.1.24 is from myself, Ignoring it !
Jun 4 16:51:43 info SMTP (Email) server [SMTP.MYISP.COM] is at IP address 888.888.888.888:25
Jun 4 16:51:39 debug gpio create pidfile /var/run/gpio_wan_green.pid
Jun 4 16:49:19 notice HTTP listening on port 10579
Jun 4 16:49:17 notice HTTP listening on port 65530
Jun 4 16:49:15 info Service D-link HNAP Service (/var/etc/avahi/services/dhnap.service) successfully established.
Jun 4 16:49:15 info Service D-Link DIR-857 Configuration Utility (/var/etc/avahi/services/http.service) successfully established.
Jun 4 16:49:15 info Service MYDIR857 (/var/etc/avahi/services/mtdaap.service) successfully established.
Jun 4 16:49:15 info Server startup complete. Host name is MYDIR857.local. Local service cookie is 1311551786.
Jun 4 16:49:14 notice ( (800)action 1,major 8,minor 0)
Jun 4 16:49:14 notice [ 31.173182] sd 0:0:0:0: [sda] Attached SCSI removable disk
Jun 4 16:49:14 notice [ 31.168657] sd 0:0:0:0: Attached scsi generic sg0 type 0
Jun 4 16:49:14 notice [ 31.148828] scsi 0:0:0:0: Direct-Access Generic STORAGE DEVICE 0206 PQ: 0 ANSI: 0
Jun 4 16:49:14 info Registering new address record for 192.168.200.1 on br0.IPv4.
Jun 4 16:49:14 info Registering new address record for fe80::baa3:86ff:fe4f:6636 on br0.*.
Jun 4 16:49:14 info Network interface enumeration completed.
Jun 4 16:49:14 info New relevant interface br0.IPv4 for mDNS.
Jun 4 16:49:14 info Joining mDNS multicast group on interface br0.IPv4 with address 192.168.200.1.
Jun 4 16:49:14 info New relevant interface br0.IPv6 for mDNS.
Jun 4 16:49:14 info Joining mDNS multicast group on interface br0.IPv6 with address fe80::baa3:86ff:fe4f:6636.
Jun 4 16:49:14 info Loading service file /var/etc/avahi/services/mtdaap.service.
Jun 4 16:49:14 info Loading service file /var/etc/avahi/services/http.service.
Jun 4 16:49:14 info Loading service file /var/etc/avahi/services/dhnap.service.
Jun 4 16:49:14 info avahi-daemon 0.6.30 starting up.
Jun 4 16:49:14 info Successfully dropped root privileges.
Jun 4 16:49:14 info Found user 'root' (UID 0) and group 'root' (GID 0).
Jun 4 16:49:14 debug Debu: Route activate request 999.999.999.999 to 224.0.1.24 is from myself, Ignoring it !
Jun 4 16:49:14 debug Debu: Joining group 224.0.1.24 upstream on IF address 999.999.999.999
Jun 4 16:49:13 info [ 30.152961] USB Mass Storage support registered.
Jun 4 16:49:13 info [ 30.152884] usbcore: registered new interface driver usb-storage
Jun 4 16:49:13 info [ 30.146494] scsi0 : usb-storage 1-1:1.0
Jun 4 16:49:13 info [ 30.145156] Initializing USB Mass Storage driver...
Jun 4 16:49:13 debug [ 29.948203] jcp_command_register: new command registered EXEC SCANNER DISCONNECT
Jun 4 16:49:13 debug [ 29.948150] jcp_command_register: new command registered EXEC SCANNER CONNECT
Jun 4 16:49:13 debug [ 29.948089] jcp_command_register: new command registered GET USB_DEVICE_LIST
Jun 4 16:49:13 debug [ 29.948030] jcp_command_register: new command registered GET SCANNER_STATUS
Jun 4 16:49:13 debug [ 29.947984] jcp_command_register: new command registered GET SCANNER PORT_NAME
Jun 4 16:49:13 debug [ 29.947915] jcp_command_register: new command registered GET USB_PORT_NAME
Jun 4 16:49:13 info [ 29.776469] usbcore: registered new interface driver sxuptp_driver
Jun 4 16:49:13 info [ 29.773019] sxuptp_driver: * If#=0 Alt=0 #EPs=2 Cls=0x08 SubCls=0x06 Prot=0x50
Jun 4 16:49:13 info [ 29.772888] sxuptp_driver: S(0x02): 000000000206
Jun 4 16:49:13 info [ 29.772824] sxuptp_driver: P(0x04): USB Storage
Jun 4 16:49:13 info [ 29.772761] sxuptp_driver: M(0x03): Generic
Jun 4 16:49:13 info [ 29.772679] sxuptp_driver: VID:0x05e3 PID:0x0727
Jun 4 16:49:13 debug [ 29.566674] sxuptp: sxuptp_keepalive_thread start
Jun 4 16:49:13 info read /var/tmp/hosts - 1 addresses
Jun 4 16:49:13 info read /etc/hosts - 2 addresses
Jun 4 16:49:13 info using nameserver 444.444.444.444#53
Jun 4 16:49:13 info using nameserver 555.555.555.555#53
Jun 4 16:49:13 info reading /etc/resolv.conf
Jun 4 16:49:13 info compile time options: IPv6 GNU-getopt no-MMU ISC-leasefile no-DOCTOR no-NOWILD no-DBus no-I18N TFTP
Jun 4 16:49:13 info started, version 2.45 cachesize 150
Jun 4 16:49:12 debug gpio create pidfile /var/run/gpio_power.pid
Jun 4 16:49:11 info avahi-daemon 0.6.30 exiting.
Jun 4 16:49:11 info Leaving mDNS multicast group on interface br0.IPv4 with address 192.168.200.1.
Jun 4 16:49:11 info Leaving mDNS multicast group on interface br0.IPv6 with address fe80::baa3:86ff:fe4f:6636.
Jun 4 16:49:10 info exiting on receipt of SIGTERM
Jun 4 16:49:10 notice received signal 15, good-bye
Jun 4 16:49:10 notice received signal 15, good-bye
Jun 4 16:49:10 notice pppd sent restart signal to rc
Jun 4 16:49:10 notice pppd check for rc to be idle ?
Jun 4 16:49:10 notice secondary DNS address 555.555.555.555
Jun 4 16:49:10 notice primary DNS address 444.444.444.444
Jun 4 16:49:10 notice ipcp_up: remote PPP IP address 777.777.777.777
Jun 4 16:49:10 notice ipcp_up: local PPP IP address 999.999.999.999
Jun 4 16:49:10 notice ipcp_up: Open /var/tmp/pptp_server_ip.txt (l2tp_server_ip.txt) fail or Using PPPoE
Jun 4 16:49:10 debug peerdns2 : 555.555.555.555
Jun 4 16:49:10 debug peerdns1 : 444.444.444.444
Jun 4 16:49:10 debug ppp create_resolv in ipcp
Jun 4 16:49:10 debug sent [IPCP ConfAck id=0x50 'addr 777.777.777.777']
Jun 4 16:49:10 debug rcvd [IPCP ConfReq id=0x50 'addr 777.777.777.777']
Jun 4 16:49:09 debug rcvd [IPCP ConfAck id=0x2 'addr 999.999.999.999' 'ms-dns1 444.444.444.444' 'ms-dns3 555.555.555.555']
Jun 4 16:49:09 debug sent [IPCP ConfReq id=0x2 'addr 999.999.999.999' 'ms-dns1 444.444.444.444' 'ms-dns3 555.555.555.555']
Jun 4 16:49:09 debug rcvd [IPCP ConfNak id=0x1 'addr 999.999.999.999' 'ms-dns1 444.444.444.444' 'ms-dns3 555.555.555.555']
Jun 4 16:49:09 debug sent [IPCP ConfReq id=0x1 'addr 0.0.0.0' 'ms-dns1 0.0.0.0' 'ms-dns3 0.0.0.0']
Jun 4 16:49:09 notice peer from calling number 00:26:82:FD:8A:50 authorized
Jun 4 16:49:09 notice PAP authentication succeeded
Jun 4 16:49:09 debug rcvd [PAP AuthAck id=0x1 ]
Jun 4 16:49:09 debug rcvd [LCP EchoRep id=0x0 magic=0x41572f27]
Jun 4 16:49:09 debug sent [PAP AuthReq id=0x1 user= username@myisp.com password='hidden']
Jun 4 16:49:09 debug sent [LCP EchoReq id=0x0 magic=0x91fd5d88]
Jun 4 16:49:09 debug rcvd [LCP ConfAck id=0x1 'mru 1492' 'magic 0x91fd5d88']
Jun 4 16:49:09 debug sent [LCP ConfAck id=0xc6 'mru 1492' 'auth pap' 'magic 0x41572f27']
Jun 4 16:49:09 debug rcvd [LCP ConfReq id=0xc6 'mru 1492' 'auth pap' 'magic 0x41572f27']
Jun 4 16:49:09 debug sent [LCP ConfReq id=0x1 'mru 1492' 'magic 0x91fd5d88']
Jun 4 16:49:09 notice Connect: ppp0 '--' eth1
Jun 4 16:49:09 info Using interface ppp0
Jun 4 16:49:09 debug using channel 1
Jun 4 16:49:09 info PPP session is 1
Jun 4 16:49:09 debug PADS: Service-Name: ''
Jun 4 16:49:08 notice HTTP listening on port 55992
Jun 4 16:49:07 info disable write rom conf.
Jun 4 16:49:07 info disable write rom conf.
Jun 4 16:49:06 notice HTTP listening on port 65530
Jun 4 16:49:05 info Service D-link HNAP Service (/var/etc/avahi/services/dhnap.service) successfully established.
Jun 4 16:49:05 info Service D-Link DIR-857 Configuration Utility (/var/etc/avahi/services/http.service) successfully established.
Jun 4 16:49:05 info Service MYDIR857 (/var/etc/avahi/services/mtdaap.service) successfully established.
Jun 4 16:49:05 info Server startup complete. Host name is MYDIR857.local. Local service cookie is 3230035688.
Jun 4 16:49:04 info Registering new address record for 192.168.200.1 on br0.IPv4.
Jun 4 16:49:04 info Registering new address record for fe80::baa3:86ff:fe4f:6636 on br0.*.
Jun 4 16:49:04 info Network interface enumeration completed.
Jun 4 16:49:04 info New relevant interface br0.IPv4 for mDNS.
Jun 4 16:49:04 info Joining mDNS multicast group on interface br0.IPv4 with address 192.168.200.1.
Jun 4 16:49:04 info New relevant interface br0.IPv6 for mDNS.
Jun 4 16:49:04 info Joining mDNS multicast group on interface br0.IPv6 with address fe80::baa3:86ff:fe4f:6636.
Jun 4 16:49:04 info Loading service file /var/etc/avahi/services/mtdaap.service.
Jun 4 16:49:04 info Loading service file /var/etc/avahi/services/http.service.
Jun 4 16:49:04 info Loading service file /var/etc/avahi/services/dhnap.service.
Jun 4 16:49:04 info avahi-daemon 0.6.30 starting up.
Jun 4 16:49:04 info Successfully dropped root privileges.
Jun 4 16:49:04 info Found user 'root' (UID 0) and group 'root' (GID 0).
Jun 4 16:49:04 info rp_pppoe =' read pppoe_conn_session error or first time dial
Jun 4 16:49:03 notice pppd 2.4.3 started by root, uid 0
Jun 4 16:49:03 info RP-PPPoE plugin inform wantimer to reset auth, discovery variable
Jun 4 16:49:03 info RP-PPPoE plugin version 3.3 compiled against pppd 2.4.3
Jun 4 16:49:03 info Plugin /lib/pppd/2.4.3/rp-pppoe.so loaded.
Jun 4 16:49:03 info read /var/tmp/hosts - 1 addresses
Jun 4 16:49:03 info read /etc/hosts - 2 addresses
Jun 4 16:49:03 info compile time options: IPv6 GNU-getopt no-MMU ISC-leasefile no-DOCTOR no-NOWILD no-DBus no-I18N TFTP
Jun 4 16:49:03 info started, version 2.45 cachesize 150
Jun 4 16:49:02 debug gpio create pidfile /var/run/gpio_power.pid
Jun 4 16:49:01 info [Initialized, firmware version: 1.01 ]
Jun 4 16:49:00 info [ 9.977341] br0: port 1(eth0) entering forwarding state
Jun 4 16:49:00 info [ 8.983413] br0: port 1(eth0) entering learning state
Jun 4 16:49:00 info [ 8.983379] br0: port 1(eth0) entering learning state
Jun 4 16:49:00 info [ 8.947652] device eth0 entered promiscuous mode
Jun 4 16:49:00 info [ 6.471925] usb 1-1: SerialNumber: 000000000206
Jun 4 16:49:00 info [ 6.471905] usb 1-1: Manufacturer: Generic
Jun 4 16:49:00 info [ 6.471887] usb 1-1: Product: USB Storage
Jun 4 16:49:00 info [ 6.471863] usb 1-1: New USB device strings: Mfr=3, Product=4, SerialNumber=2
Jun 4 16:49:00 info [ 6.471826] usb 1-1: New USB device found, idVendor=05e3, idProduct=0727
Jun 4 16:49:00 info [ 6.267362] usb 1-1: new high speed USB device number 2 using dwc_otg
Jun 4 16:49:00 info [ 5.988233] hub 2-0:1.0: 1 port detected
Jun 4 16:49:00 info [ 5.988184] hub 2-0:1.0: USB hub found
Jun 4 16:49:00 info [ 5.986613] usb usb2: SerialNumber: lm1
Jun 4 16:49:00 info [ 5.986591] usb usb2: Manufacturer: uClinux 2.6.36+ dwc_otg_hcd
Jun 4 16:49:00 info [ 5.986571] usb usb2: Product: DWC OTG Controller