By the time that Charles the Bold died, in 1477, the Burgundian Valios were no longer anywhere near the line of succession. Also, I don't know if it could hold itself apart from both France and Germany. If Charles manages to finagle a crown from the Holy Roman Emperor, then he still has the problem of having a son.
I think that the best way to still utilize Burgundy is to keep the Hapsburgs (that is Charles V) from succeeding to the Spanish throne. A lot of people had to die for that to happen, and any of them living keeps the Hapsburg off the Spanish throne. If you can do that, then I think that Charles the Bold's Burgundy (what was left of it, which was most of the good pieces) becomes the launching pad for the Hapsburg attempt to unify Germany under their rule. With the wealth of the Netherlands, and the wealth of Tyrol silver mines (which was what bought Charles V the Imperial crown, not American wealth) focused exclusively on Germany, and definitely a much more adept handling of the Luther Crisis (w/o the Most Catholic Kingdom of Spain, I tend to think the humanist educated Charles V would treat Luther much different) perhaps with an Erasmasian Church emerging in Germany. Luther's ideas had a great many supporters in Germany and were very popular among the urban middle class. The urban middle class is the essential ingredient in any strong monarchy (FACT) and Charles recognized this OTL but had too much on his plate to do anything about it, I think that you can go all kinds of places.