Per your request, attached is /proc/uptime and the stat file for init (/proc/1/stat). Since filing the report I have compiled a kernel with latencytop support for another machine (P4 w/one CPU) and see the same errata. This machine is an Intel Atom N270 which reports 2 logical CPUs.
1 (init) S 0 1 1 0 -1 4202752 935 85288594 24 50326 232 2133437386 17405337 2132249375 20 0 1 0 1 2080768 138 4294967295 134512640 134541700 0 0 0 0 0 1475401980 671819267 4294967295 0 0 0 0 0 0 59 0 0
1851666.51 1919635.03