I've used Redmine extensively both as a freelancer and in small and medium sized shops. It satisfies (1), has the capacity for (2), especially with certain plu

I've used Redmine extensively both as a freelancer and in small and medium sized shops. It satisfies (1), has the capacity for (2), especially with certain plugins, takes care of (3) better than any other app I've used... You have (3) twice, but it also handles time tracking, and via other plugins handles it quite well and can even handle billing and invoicing from time tracking data. Project status, milestones (it calls them versions, but everyone I know uses them as milestones), and so on. And if there's anything you don't like about it, hey, it's a rails app, or if you don't want to change it yourself, there's a very vibrant community around it, and I even know a guy who does custom Redmine development work for a living.