If you flip that table over, you'll see that its 2 screws to remove each of the two brackets for the FW.
I would take those off, get some flat stock, drill holes in the FS to match the existing ones in the wood.
No need to cut anything.
Maybe make a 3rd, to support the machine at the front too. The FW is about the same height as the 301, so this should work... Just make sure that the length is right. I think it is, but my FW and 301 are both tucked away at the moment.
This way, if / when you end up with a FW, you can go back to its original state, or leave it convertible. And you don't ruin the resale value.
For the wood, try some Murphy's oil soap. Let it dry completely, give it a very light sand, clean it with a tack cloth and apply some Howard Feed N Wax. If you want to stain and seal, do that before the Feed N Wax.