I think this is very good and flexible, given that at the beginning of 2012 there were several ready-made options available at this api level when they asked this question.
http://code.google.com/p/android-wheel/
EDIT: So, what if iOS has similar controls. This does not make this answer bad. Android is freedom of choice. In addition, the appearance of this control depends on the styles. Remove the shadow, add blue highlights and it will look like an Android 4 selection timer, as requested by the OP.
I point out a possible solution to the problem of people. I am NOT a supporter that Android apps should look like iOS apps, and I personally hate Android apps that are poorly ported, which is why they are clones of their iOS versions. Some people are really fans.
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