A whimsical story about a gentle, eccentric old man with a peculiar obsession with a grandfather clock. Best taken as an allegory not to let superstition or the past stand in the way of the present. Any supernatural element here might be taken as though merely psychological. Besides that Ed Wynn is larger-than-life enough, in a gentle way, to make the viewer see past the silliness of the tie-in with the Victorian clock song of the title. The story would be better without making that direct association.
Thanks to Ed Wynn (Mad Hatter's voice in Disney's 'Alice In Wonderland', as well as having acted Serling's own writing in 'Requiem For A Heavyweight', and in TZ 'One For The Angels') this becomes engaging on a human level.