user friendly datetime features

[Daniel Fetchinson]

Many times a more user friendly date format is convenient than the
pure date and time.
For example for a date that is yesterday I would like to see
"yesterday" instead of the date itself. And for a date that was 2 days
ago I would like to see "2 days ago" but for something that was 4 days
ago I would like to see the actual date. This is often seen in web
applications, I'm sure you all know what I'm talking about.

I'm guessing this feature is needed so often in so many projects that
it has been implemented already by several people. Does anyone know of
such a stand alone module?