Caitlin is such a lil madam! She knows what she's not allowed to do (like put her hands on the oven or play with the stereo (Daddy's toys lol) she even says "NO!" when she does it!
The only thing that works with her is telling her no and removing her from the situation, then distracting her. I've tried a couple of times to do Time Out or stand in the corner for 30 seconds thing and I swear it was more trouble than it was worth and I got more rilled up from trying to keep her there than I ever was over her touching stuff she knows she shouldn't!
I think time out would work better when they understand consequence. Knowing right from wrong is a whole different skill IMO.