I think time is important because without it you loose sight of 'pace' or volatility. I am not saying you can't trade without it as clearly you can. The full picture (for me) is a triangle of time price and volume. They are all related and detecting the shifts is easier with all pieces of information (again for me). Of course price is king as that is where we make our money and some people can do well enough with price alone.
EDIT: Have you had a look at James MP thread? Time is all important in MP
