My 60n1 cocktail started its second life about like yours, but didn't have any panels at all. I would say I saved it from the dump as opposed to ruining it. Now its in my living room with my own CPs waiting for me to one day put those pacman CPs I bought in IL on vacation and those pac sticks I bought months later trom that lady in TX back together.
Now, if you kept the original panels you could still do a 60, but maybe cull it down to left, right, shoot games like galaxian, galaga, space invaders, the end, etc. that might be cool. I have one like yours I have been thinking about doing this to. (I have a dedicated galaxian CT as well)
If you want a panel that will fit where you could do a pac stick and maybe a button (if you drill one) this might be what you're looking for.
http://www.arcadeshop.com/pics/cocktail-conversion-panels.jpg
Its for converting galaxian to pacman.