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I've made a go with this; I'm trying to combine it with GTD, which seems to be working well enough for me.
I like the physical timer with the ticking, actually; it does seem to help me focus a bit. Can't use that in my office, but most of the time I work from my home and there it works well.
Like any time management technique, one must have the force of will to manage one's time. That's where I fall down sometimes, but this at least provides me a "hook" on which to focus, and is fairly easily understood.