In SharePoint, you are seeing a formatted date. When InfoPath queries the list / library, it returns the actual value - which is a date time (with a blank time). So - the issue you are going to have here is that you can't use a formula to tidy this up in InfoPath, because, as you mentioned, you are using this data as the values for a combo box. What I would do is add a calculated column to the SharePoint list / library and use SharePoint date formulas to format the date as you'd like to see it in IP. Set the calculated column to just return text, and InfoPath should display it as you have it formatted. Make sense?
Hilary Stoupa
