Your first point is a very old and well-analyzed one amongst Marxists, in the sense of time-as-labor, "time" being the usual approximate metric for the measure of labor. Indeed, depending on how one interprets your question, it may be that you independently stumbled upon one of the key points of Marxian analysis and the concept of surplus-value.
Perhaps with that qualification some Googling may serve as a productive use of your time.
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No, no, I can't take credit. I've read The Marx-Engels Reader cover to cover, as well as some interesting neo-Marxist thoughts on time-as-labor by a guy named something-or-other Cohen.
In general, I think Marx was wrong -- his hypothesis about Life, the Universe, and Everything was just far too complex to have any serious chance of being wholly or even mostly correct, and history has been justly unkind to his predictions. As to the single point of time being a useful way to analyze labor, though, well, that's a much simpler idea, and has not been disproven, and has not received much attention lately.
That said, if you have specific suggestions for what I should Google, I'm all ears.
Complex is very far from what I would call Marx's objective hypotheses. Perhaps you are confusing Marx's analyses of the capitalist modus specifically, such as he did in Capital, with dialectical materialism in general; the former is naturally very complex, as it is the analysis of a subjective and transitory superstructural expression of dialectical materialism in general, the latter being, if I may take this liberty, akin to Bayes' Law in being simple in expression yet complex in result.
To put it another way, it is easy to confuse Marx's subjective analysis of a transitory form, which he did most prominently in Capital, with the broad, historical, sociological, objective principles of the materialist conception of history, dialectical materialism, which he expressed in parts throughout his writing.
Additionally I, for one, would hold that contrary to the common perception of Marx having failed at his predictions that Marx's writings on capitalism apply more to the current state of affairs than to his own.
Anyway, on reading back over your post, I'm not so sure now exactly what you are trying to do; but reading the literature on surplus labor, etc. can never hurt!