Basic features: a user can create a hierarchy of projects and tasks shown in a tree view; time recording for every defined task and task status management; data export to a comma-separated file which can be further opened in MS Excel or any other application supporting CSV format; detailed time log; dynamically computed summaries of used time per each project and task; easy to use time filtering; data is stored in a transparent XML format which can be easily integrated with other applications.

Update Description:
Version 0.5 with native (Windows) user interface.