A while ago someone requested to adjust the timezone lists, as used on the cam detail page, to something shorter. I agree this long list is clumsy, to say the least. But changing it to a shorter list can lead to all kinds of nasty problems, mainly due to Daylight Saving Time. (If you're wondering why have a look at these and these discussions and this info.)
So... Instead of changing the timezone list, I opted for another approach: timezone autodetection during user registration. From now on, everyone that creates a new account should have the correct timezone set.
As a reminder, specifically for all existing users especially because most of you have your timezone still set to the default GMT, you can always update your timezone in the account settings page, where it will be saved in your account.