My girlfriend and I have talked about this and we couldn't differ anymore on the subject of time outs. She believes in them and I think it's horrible and doesn't teach the child anything. Most kids these days don't show any respect for their parents because the parents are to busy trying to be their friends than their actual parents.
Kids need to know when they have done something wrong. Telling them to go to their room (where they have internet, cell phones, and video games...a whole other problem) is not going to teach them a damn thing.
By the way, what ever happened to kids getting grounded and actual things they like taken away from them?