Definitley I have seen cusotmers do this. Most customers use the embedded eProject time sheets but for those that don't requrie this, you could use a Dynamic App to capture trouble ticket time or other time. Dynamic Apps live in a workspace. So if you want to track time by each worskpace (project/program) your team will enter it there. Through ad hoc reports, you will be able to report against this data. To combine this with other project or program data, you may need the power of Advanced Reporting Engine (crystal reports)
In next quarter's release (PPM6), dyamnic apps get a major improvement. You will be able to have cross workspace dyamic app views to aggregate all entries and build custom views (group, filter, pick display columns) against that on your central dashboard. Also, dashboard views will allow you to combine different data elements such as project task time, dyanmic app time, expenses, etc all on one onscreeen dashbaord report. Thus, you will be able to see all your data in one spot onscreen without having to even go to reports.
You may want to contact services about assistance with your current dynamic app needs. More information about about PPM6 will be coming in April or May.