First of all, those strange looking numbers are Unix-style datetime-stamps. It is the number of seconds since the Unix-epoch.
Ofcourse you can write your own formatting using standard PHP-functions. When used in a vB environment it is however better to use vbdate() as provided in includes/functions.php.
Examples:
PHP Code:
$MyFormattedDate = vbdate($vbulletin->options['dateformat'], $postinfo['dateline']);
$MyFormattedTime = vbdate($vbulletin->options['timeformat'], $postinfo['dateline']);
$vbulletin->options['dateformat'] points to the different date and time formats you can set in AdminCP->vBulletin Options->Date and Time Options
If you use this technique you can make sure that dates and times are consistently formatted on your board.