When I use TOP command, I could get the following info:
shell@android:/ $ top -n 1
User 31%, System 10%, IO
Use DDMS and method profiling to get a TraceView.
Basically:
More details here: http://developer.android.com/tools/debugging/debugging-tracing.html
Disclaimer: I've only done this with a simple test app so I don't know how much mileage you'll get out of it. It does seem to give a bit more precision than what has been described so far, and does not require root.