If you're asking can you set the device to anytime in the world, then yet. But, if you're looking for an application that will show you anytime from various parts of the world, then again, there are lots of applications that do this, but it's not on the 8800 by default...
Do a search in the Store; as an example, check, here...
Yes I was looking for an application that will display world time, thanks for the link. Surprising that the BB doesn't have one built in, my last two phones a sony-ericsson & nokia both had easy to use applications that allowed me to set and display various time zones. I will give WorldMagic a try.