It is surprising to see both * and o in the ntpq billboard compared to earlier linux ntp versions. Also seeing PPSTIME PPSFREQ but not PPSSIGNAL is noted.
fallkiss linux # ntpq -p
     remote           refid      st t when poll reach   delay   offset  jitter
==============================================================================
oPPS(0)          .PPS.            0 l   11   16  377    0.000   -0.002   0.001
*smidge.wraith.s .GPS.            1 u    9   16  377    0.233    0.021   0.005
+thrall.wraith.s 192.58.220.5     2 u    8   16  377    0.155    0.012   0.011
+wraith.wraith.s .GPS.            1 u    8   16  377    0.307    0.013   0.017

fallkiss linux # ntptime
ntp_gettime() returns code 0 (OK)
  time cfb81dcb.e8e192d8  Mon, Jun  7 2010 18:39:23.909, (.909692940),
  maximum error 2235 us, estimated error 0 us
ntp_adjtime() returns code 0 (OK)
  modes 0x0 (),
  offset -1.138 us, frequency 48.882 ppm, interval 1 s,
  maximum error 2235 us, estimated error 0 us,
  status 0x2007 (PLL,PPSFREQ,PPSTIME,NANO),
  time constant 4, precision 0.001 us, tolerance 500 ppm,