I think it would be a good idea to be able to change the time, like in RoR (In RoR you hold numpad + to make the time of the day go forward and numpad - to make it go backward).
Well, that being said, does the light level and color also change (a.k.a. time passing), or is it just the sun moving at a preset time in the day cycle? because it would obviously be much more realistic if light/color changes as well.