As you noted, calculating ETA is three trivial math operations. Thus, I'm not at all surprised that there is no module for it.
To make it worthwhile, you should probably add a start() / pause() / resume() to manage the clock, and perhaps track time at higher rez than unit seconds. Perhaps allow for multiple simultaneous timers and a combined ETA. Options for weighting more recent data points over old data points would be good too.
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