The TTT Quest Expands Beyond the PKF

In a recent issue of BusinessWeek an article entitled The Shape of Perks to Come has this to say about timesheets:

Throw out the time sheets As more companies put a premium on what you achieve, instead of how many hours you put in each week, costly time-keeping policies, rules, and procedures will evaporate. It's already happening at such companies as Best Buy and Netflix, which offer variations of unlimited time off. Employees are free to work wherever they want, whenever they want, so long as the work gets done. Then again, in a workaholic era, sometimes it's nice to have someone forcing you to take vacation.

Is this the beginning of the end for timesheets across all industries? What do you think?