Bugzilla 3.4 will have rudimentary support for saying that a bug is related to a bug in another bug-tracker. Currently the development version allows you to input Bugzilla and Launchpad bugs, and we'll probably allow Trac and Jira in some future version, too.

Future versions will also automatically update the other bug tracker, if possible, to let them know that you've set a relationship to their bug.

The relevant bug for tracking development on this feature is here:

https://bugzilla.mozilla.org/show_bug.cgi?id=bz-seealso

-Max

Bugzilla does have time-tracking, you just have to set the timetrackinggroup parameter. Products can be hidden by setting them as Mandatory/Mandatory for a group that nobody is in. You can also close them to entry and they won't appear on the New Bug page. -Max