I use time tables in quite a flexible way: I use milestones (like the ones we missed couple of weeks ago…) to tell about the “bigger picture”. Having information about the big steps makes it clearer for everybody involved in the production – team members will have idea about where you are going.
People (expecially indies) either work hard or not and make their own time tables or not. In the past I worked with a guy who repeated mentioning the hours he spends on development, he said he was doing 10 or 14 hour days. Yet, I didn’t see almost any results and eventually the guy just vanished after I asked for he to give me the work he had done. That’s the last time I heard about him. On the other hand, I worked with a very skilled programmer who worked really hard. In both cases the time tables were handled in similar manner – milestones to give a bigger picture, and then some sort of task list to see what needs to be done next.
Better to have some sort of plan, and work hard on in rather than to have very detailed and big plans that never get done.