I agree about just replacing the clockworks unit on the back (and the hands that will come with it, or keep the ones you have).
Or you could use the parts in various ways. The whole thing, without the clockworks could make a nice frame for a photo, or mirror, or something else; you could leave the wood as a backing, or replace it with a different backing, or just leave it off so the frame would be "see-thru." Or you could use remove the brass part and use it as a frame, or as a decorative element on a box or in any other way.
Or you could put a turntable mechanism underneath and a sheet of glass on the top, then use as a lazy susan or rotating spice rack, etc.