iPhone-like Time Picker

The  Plaxo calender has an iPhone-like time picker that allows users to select a date without scrolling:

Compare the above with the time picker in the Outlook calendar, which presents a long, scrolling list of times in half-hour increments:

The scrolling time selection requires much more interaction on the part of the user if they are entering a time that isn't immediately displayed (default time is the current time).