The following is far from perfect. But it's the closest I could come up with to simulate UNIX time behavior. I'm sure it can be improved a lot.
Basically I'm creating a cmdlet that receives a script block, generates a process and uses GetProcessTimes to get Kernel, User and Elapsed times.
Once the cmdlet is loaded, just invoke it with 
Measure-Time -Command {your-command} [-silent]
The -Silent switch means no output generated from the command (I.e you are interested only in the time measures)
So for example:
Measure-Time -Command {Get-Process;sleep -Seconds 5} -Silent
The output generated:
Kernel time : 0.6084039
User time   : 0.6864044
Elapsed     : 00:00:06.6144000
Here is the cmdlet:
Add-Type -TypeDefinition @" 
using System; 
using System.Runtime.InteropServices;
public class ProcessTime 
{ 
    [DllImport("kernel32.dll", CharSet = CharSet.Unicode)]
    public static extern bool GetProcessTimes(IntPtr handle, 
                                              out IntPtr creation, 
                                              out IntPtr exit, 
                                              out IntPtr kernel,
                                              out IntPtr user);
}
"@
function Measure-Time
{
    [CmdletBinding()]
    param ([scriptblock] $Command,
    [switch] $Silent = $false
    )
    begin
    {
        $creation = 0
        $exit = 0
        $kernel = 0
        $user = 0
        $psi = new-object diagnostics.ProcessStartInfo
        $psi.CreateNoWindow = $true
        $psi.RedirectStandardOutput = $true
        $psi.FileName = "powershell.exe"
        $psi.Arguments = "-command $Command"
        $psi.UseShellExecute = $false
    }
    process
    {
        $proc = [diagnostics.process]::start($psi)
        $buffer = $proc.StandardOutput.ReadToEnd()    
        if (!$Silent)
        {
            Write-Output $buffer
        }
        $proc.WaitForExit()
    }
    end
    {
        $ret = [ProcessTime]::GetProcessTimes($proc.handle,
                                      [ref]$creation,
                                      [ref]$exit,
                                      [ref]$kernel,
                                      [ref]$user
                                      )
        $kernelTime = [long]$kernel/10000000.0
        $userTime = [long]$user/10000000.0
        $elapsed = [datetime]::FromFileTime($exit) - [datetime]::FromFileTime($creation)
        Write-Output "Kernel time : $kernelTime"
        Write-Output "User time   : $userTime"
        Write-Output "Elapsed     : $elapsed"
    }
}