This is probably my favorite example of product repurposing out of all of the ones I've seen, and I've seen a lot: The Derelicts, a fascinating series of one-off cars that is a side project for Jonathan Ward's Icon. I realize I may be somewhat biased in that while I prize both utility and aesthetics, given an ultimatum I'll always choose the former.
Ward realized that when restoring his own personal cars, he often takes it too far—"Concours [d'Elegance], total geeked out—and then I don't want to use it, like I'm scared to use it," he explains. The solution is to take old beaters, starting with a '52 Chrysler Town & Country station wagon that looks like hell, and restore them to mechanical perfection. The exterior finish largely stays as-is, but the cars are transformed, performance-wise, into reliable—and fast—daily drivers.
"I want something I can beat on and use every day," says Ward. Which still didn't stop him from pulling off some kick-ass interiors, as you'll see around the 4:40 mark in the vid below:
By the way the video was put together by eGarage, a rather interesting company comprised of three guys with very different backgrounds (design & marketing, real estate & collecting, gaming & photography) brought together by "a collective dissatisfaction with the way Automotive content is portrayed on the internet." Check out more of their videos here.