Lots of really great suggestions here! Thank you all so much.
The bed isn't used very much but we do need to leave it in there for company with kids. This is an older cottage, was a hunting place originally, with knotty pine walls so not the best space for a Murphy bed but those are really cool inventions.
I wondered if a card table would be sturdy enough so appreciate that feedback. I love the looks of the gateleg table too.
I poked around in our storage shed and I have a wire shelf from Target that might work with the Masonite on top. Target has locking castors to put on the legs which would make it taller.
Then again, I can put bed risers under the legs of our dining table that's on the front porch. If I do this, I might have space for a small rocker (from my parents' house) and a reading lamp in the room.
As DH would say:'So many choices.'
One of our sons has decided to come up for an extended visit starting tomorrow. In itself that's good news but he can also help move the monster piece of furniture out of there. So, it looks like this will come together sooner than I thought.
I better go work on more organizing...thanks again.