Add wifi for auto time sync, and remote app for settings

[cbonsig]

For rev2 hardware. Likely needs ARM type processor to be practical.

[Robert-L]

If it's accuracy you're after, consider using a DS3231 chip or Chronodot. These give you the kind of accuracy where you will find yourself setting your wristwatch according to your alarm clock rather than vice versa.
The DS3231 does have its limits though, and if 2 or 3 seconds' error per month is too much, go for the WiFi or perhaps a GPS receiver.

[cbonsig]

Chronodot is onboard, and you're right, its great. The ideal, though, is that the user specifies only the time zone, and the clock handles the rest. Minutes and seconds should ideally be close to perfectly synchronized with atomic time (a.k.a. cell phone time)