Profiling Mathematica Code

Is there a good way to profile code in Mathematica? I would like to be able to recurse (i.e., if I say f[a_] := b[a], then Profile[f[1]] should give almost the same output as Profile[b[1]]), but I'll settle for being able to do something like applying Timing to every relevant subexpression. It would be nice if I didn't have to special-case things like Module, but I'd like, e.g., Profile[Module[{x=1+2},x!]] to give me an output like

Time    Expression         Result
0       1                  1
0       2                  2
0       1 + 2              3
0       x$1234             3   
0       x$1234 !           6
0       Module[{x=1+2},x!] 6

6