I find myself really not even paying much attention to the time. I do notice when the sun is setting in game, and will glance at the game clock. But, I'm not worried too much. I did use MCCC to slow the time down, once, and I think I placed it on a wrong setting for my taste. Time seemed to drag. Not exactly what I wanted. I shall have to try it again, and not slow it down quite so much. (Now, if I could only remember what number I set it at …) I tend to make the children do their homework/projects right after they get home from school. And considering I was never one to use the cheats to bring up their needs, I do find myself cheating to Make Happy, when needed. I never do so for the toddlers, however. I still want that challenge. I was a bit surprised when I last played that the toddler was out in the back yard playing on her jungle gym after ten at night. I didn't even have to send the Dad after her. He was already on his way. What a good dad he is.
I recall I played this way back in Sims2. I wasn't really concerned with the time of day. Sometimes I'd send the child Sims to bed because they were often exhausted when they first got back from school. Then I'd get them up, halfway through their rested bar, to have them do their homework. If there was enough time, I'd send them back to bed to finish sleeping.
I guess what I'm saying is I don't have a crushing need to mirror RL.
ETA: I do find myself nervously watching the time if a curfew has been set!
