I recently listened to the audio-book of "The Hours", and I loved it!! I haven't seen the movie yet. Listening to the comments made here in this thread, I'm thinking that the movie, as usual, is 'Hollywood-izing' the book, by picking-and-choosing the scenes that sell.
My first impression of the book, was the way that Cunningham toyed with time. He did an excellent job. And I totally agree that he painted beautiful mental scenery.
From listening to the audio-book, I did not get the impression that Cunningham was saying that people are shaped by their misery. Maybe that was part of the 'Hollywood-izing' of the book?? However, when the term "the hours" were brought out in the story, as I remember, the term referred to the time immediately following an event and how that event would be perceived in the future.