Feature request: Time format settings

Request:

I know this is kind of specific, but I'd like an option to increase the decimal place to two or three decimals. I'd just like more precision, so I can tell how close my hours are. Perhaps it would instead be better to choose between decimals (80.1) hours, and HH:MM format (80:06), or maybe even an option with days (3:08:06). This would be useful in the "Projects" section, and even on the list items.

Implementation:

Perhaps this could be implemented as a dropdown in settings, with a label such as "Time Format", and options ranging from Decimal (default), HH:MM, DD:HH:MM.