you can try kernel 3.0.35 which had correct value.
change happens since: commit 1119c84aa3053bd415ba731ada1ecef24c8f82a2
Author: Sebastian Andrzej Siewior <bigeasy@linutronix.de>
Date: Wed Jan 22 12:35:44 2014 +0100
ARM: imx: enable delaytimer on the imx timer
The imx can support timer-based delays, so implement this.
Skips past jiffy calibration.