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It seems that the code responsible for this is in kernel/itimer.c:126:

	p->signal->real_timer.expires = jiffies + interval;
	add_timer(&p->signal->real_timer);

If you request an interval of, lets say 900 usecs, the interval given by
timeval_to_jiffies will be 1.

If you request this when we are half-way between two timer ticks, the
interval will only give 400 usecs.

If we want to guarantee that we never ever give intervals less than
requested, the simple solution would be to change that to:

	p->signal->real_timer.expires = jiffies + interval + 1;

This however will produce pathological cases, like having a idle system
being requested 1 ms timeouts will give systematically 2 ms timeouts,
whereas currently it simply gives a few usecs less than 1 ms.

The complex (and more computationally expensive) solution would be to
check the gettimeofday time, and compute the correct number of jiffies.
This way, if we request a 300 usecs timer 200 usecs inside the timer
tick...