One of the most useful (and most used) apps on my Android-powered Samsung Galaxy Ace is UltraChron Stopwatch Lite, developed by TheSpinningHead. What it is, is a fantastically easy to use, responsive stopwatch and timer application.
Although perhaps a little garish in design, the stopwatch and timers are very configurable, features a voice to count down those important bits, the ability to capture lap times and create timed histories thanks to its editable descriptions. It also features persistent notifications and has the ability to wake the phone, meaning that you don’t have to worry about losing your timer or stopwatch after your screen lock saver kicks in!
Very nice, very easy to use, and most importantly of all, works damn well, making it well worth your while to install on your device. (Works a charm in the kitchen for cooking purposes!)
Anyway, search for UltraChron in the market place to download and install!