Toning by time only works for a few prints, since the toner loses activity the more prints are run through it.
I tone visually, then note the time if I have more of the same print to tone. I'll tone those at the same time, keeping an eye on them, but that's usually only two to four identical prints. However, after you run 10-15 prints through a usual size toning bath (e.g., 1 liter for 8x10 prints etc.), then the time to tone to the same level will have increased noticeably. Those that tone everything for x minutes in toner 1+x aren't getting even toning...
Plus, I've found that to get the same "look" for prints with markedly different distributions of tones, that toning times for those prints may be quite a bit different. It's a subjective evaluation of overall toning, which is affected by the relative amounts of highs to lows to mid-tones.
Doremus