I have the Traceys Quilters table and have had it for probably close to 10 years and no problems. It survived my husband getting it home from the LQS - he's not always the most careful person. I use it a lot and really haven't noticed any wear and tear. I got mine before they offered the adjustable lifts but only have 2 machines and no problem interchanging them(need different inserts). If you think this is really what you want and the only thing keeping you from going with it is the height - call/email them, I would bet money they can make some adjustments. I remember from seeing them at the Dallas show that they were very accomodating. However on the other hand the Sewperfect table looks fine also and probably quite a bit cheaper so really up to what you want.
As for cutting there are many affordable options. We purchased some kitchen cabinets (on closeout/ put together yourself types) at Home Depot then just put plywood on top. I did cover the plywood with contact paper. What I had before this also worked - two filing cabinets with a contact covered door on top. If it wasn't high enough we just put some boards under it. The other thing that I have seen that is pretty cool (if I would have seen it first I would have done it) is IKEA has a table - the two ends are saw horse looking things and are height adjustable, then just choose the top you want.