The table and fence I've been using for years on my drill press is fairly simple. All pieces are made of Melamine laminate particle board except as noted- not as sturdy as MDF, but I had it on hand and it works just fine.
The table is four pieces:
Piece 1: base w/holes for carriage bolts for attachment to original cast iron table. Extends from column to a few inches in front of original table, and about 2 feet wide. Wing nuts under original table for easy removal.
Pieces 2 & 3: top "wings" same depth as base, extending 1-2 inches beyond each side of base, ~4 inch gap between them in the center for insert. Attached to base with screws from below
Piece 4: center insert fits between wings and is replaceable/disposable. This is the piece that gets drilled into when the bit goes all the way through the workpiece. Needs to be same thickness as wings. Can make custom inserts for things like sanding drums. For drilling, I usually just use a scrap that is smaller than the gap, and move it around to a good spot.
Glued up a stack from 3/4 inch plywood, three layers, I think, about 2 inches deep (front to back when on table) and an inch or so longer on each end than the width across the wings, for attachment of pinch blocks that clamp the fence to the wings. Added a facing to the fence that is 3 inches or so tall. Important thing is that this facing is square to the table when the fence is clamped down. Facing has a V cutout in the center for clearance for the drill chuck. The pinch blocks are keyed to the fence with a spline, and clamped with a carriage bolt and wingnut or plastic knob nut (on top, where it is easy to access).
In use, loosen the pinch blocks on both ends, move the fence to the approximate desired position, snug up the pinch block on one end, then fine tune the fence position by moving the other end before tightening the second pinch block. With the right amount of looseness/tightness, you can move it just the scosh necessary - I've never felt the need for any kind of microadjuster (unlike on my tablesaw).
I made the whole thing out of scraps except for the hardware. A quartersheet of material would be plenty. I like the smoother finish the Melamine has compared to MDF. One could seal MDF with polyurethane, or add plastic laminate to it.
If all this is as clear as mud, I'll try to take and post a picture or two.