Two dimensions of time were recently used to show one possible way of unifying GR with QM - what the guy who was looking into it said was that in one 4-D manifold you have the laws of GR and in another 4-D manifold you have the laws of QM. The Universe we live in is a superposition of those two manifolds, with a very tightly bound coupling between the two time dimensions. This is needed to prevent causal loops forming, but slight deviation from a 1D time 'line' permits you to describe GR and QM within a single framework
It looked quite interesting, but as with many other theories has yet to make any concrete predictions beyond 'the LHC should see something interesting but we don't know what yet'. Sadly, this makes it just another interesting idea, rather than a proper theory, but it's worth keeping an eye on in case they do come up with something interesting
(there ya go Moony
)