Ya, I started this last night and am mostly finished with the prototyping.
I built a foam cutter with nichrome wire, assorted hardware, and pvc..
I cut up an old memory foam mattress we had laying around (which is a really nice 8 or so inches thick).
Threw those in some pillowcases (these are the armrests), and am going to cut a 1ft x 3ft length of plywood and upholster it for the table surface.
For using crap I had around, I think this is a much better solution.
I'll update with pics and a guide once I actually finish up and decide on what fabric to use, where to mount the usb hub.. etc..