Aside from the fact that there is again a discussion around the time bug I updated my branch fixing this feature on gitorious.

To use it, just grap the sources and compile it.

git clone git://gitorious.org/~paulwb/f-spot/paulwbs-clone.git

As an alternative you can download the tarball linked on the gitorious page.

cd paulwbs-clone/
git checkout origin/ImportTimeHandling
./autogen.sh
make
sudo make install

Looking forward to have this fixed and working.

Update: Steve created a PPA for Ubuntu users which fixes this bug just as my branch is doing. And, for more information, the Ubuntu bug is here.