I've built essentially the same thing, cribbed from a thread on another forum. About $20 worth of materials, if you've got a few basic tools. Even if you've only got a drill/driver you could make the same thing as long as your local supply shop will make a few cuts for you when you buy the wood and you aren't concerned about sharp corners.
OP, did you use MDF for the legs and the shelf? I only used it for the base of mine, figuring that regular pine would be lighter for the rest and help keep it from slipping / tipping.
A few notes that I discovered in my build (and which have resulted in a Mk. II):
You should do a mockup and some measurements to get the length of the legs correct. Get someone to help you if need be.
At least with the bare wood, a smoother surface is NOT better.
I'm used to sanding my woodworking projects to a very fine finish. Testing here without paint, I'm not getting enough friction to keep it from drooping, even with toothed washers between the wood pieces and the thing cranked as tight as I can. I did make the legs a bit longer than I needed to though, so they're exerting more leverage than Mk. II will. I'm figuring that roughing up the mating surface areas a bit, as well as slightly beefier toothed washers will be sufficient. If it's not, a coupla holes for pins works fine. I drilled a few in Mk. I and have stop pins with D-Ring things on them in there.
I play from two different seating positions which require a different wheel height and stretch to the pedals. Plus, I want it to be usable comfortably by others than just myself. So it's getting slots in the legs for adjustibility, instead of just holes. Plus, the blocking strip on will have pegs fitting into holes in the base which allow it to hold the pedals in a coupla spots further up or back on the base. The adjustable legs will probably mean that stop pins won't be a really viable option, so I'm hoping that I can create enough friction to not need them.
