My crib was recalled, it wasn't a drop side, but got recalled for weak wood. It kills me to waste anything. (I'm a little OCD about it) But I couldn't come up with anything to do with mine either. I had to send back all hardware, and since the wood is the problem I couldn't even think of a project for it. The only thing I could think of if the wood wasn't an issue (for yours, it shouldn't be) was to make something out of the wood to use outside for like a trellis or planter. That would require being handy and having some basic construction skills, but you might be able to come up with something.
Or you could use it as a headboard that you actually mount on the wall, like in a guestroom. You could even upholster it. Then just screw it into the wall above the bed. Otherwise, you should destroy it. I am going to have my husband run a saw through all the sides of mine before I take it to the dump so it doesn't get salvaged. But maybe I will see what other responses you get before I do that, someone might come up with something I can do with mine. :)