From what I've seen, there seems and aversion to an overall time-schedule with goals planted firmly in some calandar. Additionally, I don't know that the IE is suited well for day/night living world sort of NPC schedules - or that even if it does, that it would be best suited for PE. I'll leave that discussion to the appropriate thread. But what I would like to see discussed is how people feel about fixed time-like trigger (think some games where you drop something off at a smithy, and he says come back later, and that "later" is whenever you get around to doing a couple of tasks) or simple chapter like time skips.
I think it is fair to say both have been implemented in the past with debatable results, in various forms of media. That said, do we want there to come a point in the story, where realistically, the next major story event wouldn't follow soon, and so we have a chance to finish things, then trigger a "x months later" transition? I've been fond of the sort of immediate, significant changes to the world in some cases. Catching up with companions again, seeing if they new shipment arrived at the weapon shop, that sort of thing.
In pen and paper, I've had some DMs who insisted on this, usually after four sessions he'd say "okay, so there are like three or five months you guys have, what're you doing?" and some characters went to work crafting, others hunting clues about their antagonist or becoming a regular down at the pub. But that sort of freedom can be tricky in some games. If it is implemented, I'd like to see a text box with a list of plausible options to pass the time, drawn from both actions in the game and character traits/class/race etc, with results - at least personal gains/rewards - being appropriate.
As a plot tool, I think time-skips can really help some adventures make more sense, but in terms of gameplay it can be frustrating, depending on implementation. I wouldn't like to see any "Oh well, too bad, your family went and got killed, no matter what" while time passes, unless it is somehow plausible.