Joel - if you're still reading this thread (it's getting long) - I've been looking for a tool like this for a long time, but the lynchpin for me is the ability to track work hours so I can bill against it. I constantly run into tools that either let me track time or projects but rarely both in a way that works. This web app works well, but without time management, I'm forced to track the very same projects in another system for the sole purpose of billing. Oh what can we do here? At the very least, is there an API where we can add time tracking and billing to this?

I hope you'll see this comment!