I took an inexpensive dining table from Ikea ($40) and cut out a hole and attached a shelf underneath for my machine to sit on. I then bought the clear vinyl plastic table covering from JoAnn's (you can get it by the yard). I cut out a space for my machine/needle and stapled it underneath the table. This gave me a super slippery surface. I had the cut out edges just slightly overlap onto my machine so there was nothing to snag nor any holes for things to fall into.
I have since then, purchased different ikea tables (yes i have an Ikea addiction
). I am not comfortable cutting holes in these tables due to the materials they are made of so my machine is currently sitting on top. Which works ok for me since both machines are embroidery machines as well and I can not recess them with the embroidery unit attached.
I really liked my plain dining table with a hole cut into it. It was a good size as well (4'x30"). Even if you use plywood, you can still cover the plywood with vinyl and get a super smooth surface, which you can replace if necessary.