[couac]

Do you mean this? http://orgmode.org/

Can you track time with it?

[delta1]

Yes indeed you can "clock in" to your Todos as you work on them, and then generate a "clock table" to see what time you've spent where.

http://orgmode.org/manual/Clocking-commands.html#Clocking-co...

[CogDisco]

Yes, although Org calls it "clocking".

[aphistic]

They said half of Org mode. It might be the other half that's actually the important part. :)