I finally got around to refinishing my FW card table. It's not perfect, but it's considerably better. I used a chemical stripper (I didn't bother to strip the black edge, just sanded that down), then sanded a few rough spots, stained it, then put four coats of high gloss tung oil on the top. ('High gloss' is actually more like satin.) I painted around the edge with satin black, and sprayed the legs and hinges (which were rusty and got sanded/steel wooled first) with Rustoleum satin black.
You can see where it had some water issues at some point, and the one spot behind the machine hole in particular didn't go all the way away, but since I never mind my furniture showing its history, I wasn't fussed. Mostly what I wanted was the top to be smoother, which I got.
I took the insert to Lowe's with me to pick a stain, and it turns out Minwax's Colonial Maple is a dead-on match. I like tung oil better than any of the 'thanes; it's a lot more forgiving, ime, especially if you're working outside, and I just like the feel of the finish better.
Now I just need to find a place in my sewing room to leave it set up!