I think the gesture to set time is not very practical. Can we use the keyboard instead ?
I'd love to press a key shortcut to create a reminder, and just with a few keystrokes to also set the time.
I am sure there are a lot of other apps that will do what you need. For example Fantastical (http://flexibits.com/fantastical) or even apps like Alfred (http://www.alfredapp.com).