Would You Use Ididwork?

Without getting too complicated, the new startup ididwork.com is Twitter for your worklife. You get a certain number of characters in which to input status updates throughout the day. You can follow what coworkers on your team are up. Unlike Twitter, you can tag your updates with things like "presentation" or "Jones account" to make it easier to search later. And you can use charts based on your posts and tags to analyze your productivity over the week. And you can send your updates to your manager over email.

The guys at TechCrunch seem to like it. For me, it doesn't really make sense, as I use wikis like Basecamp to track my thoughts and keep up with my collaborators. But within a more structured work environment, it might make sense to have a site in which to easily record your accomplishments and present a performance reviews. What do you think? Is this something you would use? Or is it another time-suck masquerading as a productivity tool?