What about $month $hour $minute $second $ampm?
It's a slippery slope.
$day really stands out of the bunch you mentioned. I can't imagine $day is used by itself in scripts that often (how many times do you just need: "/msg # You came here on $day"?), whereas a default formatting for a full $time and $date is indeed useful quite often. For that reason I wouldn't group $time and $date with $day.
IMHO, I don't even really think $day is justified, so saying we should have $year because we already have $day doesn't really convince *me*, anyway. It doesn't convince me because of the first sentence of my post.
If $year were to be added, most of the others would probably need to be added too, to be consistent. Otherwise we'll have this same discussion with $month in a $asctime(yyyy) from now.
