How to format the raw date formats when using Google Analytic Reports?
Feature request #1900994 (from early 2013), with title "Date Format in Views", seems to have been delivered (fixed) near the end of 2014 via issue #2368159, with title "Add support for datapoints types". Refer to description of the issue for more details about it (the problem description, and the actual solution that got implemented).

Issue #2368159 also resolved the issue about Format time duration, a typical variation of the question here.