M.U.G.E.N said:
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are we sure about that?
http://manuals.playstation.net/document/en/ps3/current/basicoperations/parentallock.html
http://www.joystiq.com/2006/10/25/playstation-store-currency-and-parental-control-explained/
i know that second one is old but it looks like ps3 allows parental control of content on the playstion store via esbr rating. if nintendo hasn't figured out how to do that maybe this "time" thing is just a "good enough" fix to meet legal requirements. it wouldn't be the first time in recent history nintendo has taken the "good enough" approach to things.