8051 timer problem
Although unlikely, in some very rare applications it might be viable to use the timer serving as a baudrate generator also as a timer, simply enabling its interrupt (and reducing most of the interrupts to a mere djnz SlowDownCounter,xxx; xxx: reti); although if baudrate is anything faster than say 2400 Bauds, the performance penalty associated with doing this would be detrimental.
Also, some applications might accomodate UART in mode 2, where baudrate is generated without timer, directly from oscillator. A relatively slow crystal is needed for this, and a counterpart able to communicate in 9-bit format (e.g. 8-bit and parity, or 8 bit and 2 stopbits).
The most viable option is, as said above, using a '52 with T2; or, if more timers needed, a derivative (such as some member of the 'RD2 sub-family) with the PCA unit.
JW