I've been playing with White Rabbit hardware at work. White Rabbit uses a combination of SyncE and PTP to perform very precise (<1 ns) time-distribution.
The standard low-precision way to distribute time is NTP. I hacked together a very experimental "Type 28" NTP refclock driver that reads the WR-time from SPEC shared memory and writes it to another location in shared memory where NTP expects it. Code over here: https://github.com/aewallin/ptp2ntpd
The graph shows system clock variations compared to WR-time (which we assume is very accurate) for a computer with the WR-refclock driver enabled (blue trace, minpoll 16 s), and another computer where the system clock is kept on time using standard NTP (I just added some servers to ntpd.conf, no other settings changed from default Ubuntu 12.04LTS). The WR-disciplined clock stays within maybe 50 microseconds with no net drift during the ~9 hour measurement, but the trace is quite jumpy. The NTP-disciplined clock wanders around much more (300 us) but the trace is smoother.