I gave feedback to the Messenger Team to have this option in the Client itself, somewhere in the 'Edit Contact' Information.
I still wish they implimented it
Anyway, a script would be cool.. although im not sure where we would be able to view this info, perhaps in the Information Bar in the Contact Window? If thats possible.
[User is set to Away. Local time is 10:30 PM]
That would be sweet, and also gives the whole messenger a more live feel.