The localtime(time) function returns a nine element array, the values of the array are:

   index        value
=====================
      [0]      second
      [1]      minute
      [2]        hour
      [3]   month day 
      [4]       month
      [5]        year
      [6] day of week
      [7] day of year
      [8]       isdst : not sure what this refers to . . .

There are a couple of things to watch out for in this array . . .the elements month and day are zero-based (because you'll probably use them as indexes into arrays containing month and day names . . .) and the year element has had 1900 subtracted from it, so this code:

@timearray = localtime(time);
print "$timearray[5]\n"
[download]

will print 100, not 00 or 2000.
Good question!
Simplicus