You're going to need a bit more hardware than that for an actual functioning clock. Unless I missed something that post is a bit misleading. When the arduino powers on, how does it know what time it is?
I'd look at the Arduino Stalker from Seeed studio. They're on V2 or V3 now but any should work and last I knew they had an older version for about $20 that would work great and even included the Atmega328P. They include a real-time clock module and coin-cell battery backup to retain the time during power failure on-board that you'll need. They're designed for data logging applications that require knowledge of the current time and even include an SD card slot.
The current clearance price makes it a no-brainier for your application IMO.