The solution I have come up with allows me to adjust the table from 60centimeters (~23.5 inches) up to 125centimeters (~49 inches), but it can easily be raised a couple of inches more - I'am just not that tall myself.
The total price of the project was under $70!
Step 1: Materials
1 x Tabletop (100cm x 60cm) :: VIKA AMON from IKEA :: $5.99
2 x Adjustable leg :: VIKA KAJ (OLAV) from IKEA :: $30.00 ($15 each)
2 x Hanging Track :: Habo from STARK (Dansih hardware store), but HomeDepot has something similar here) :: $13.1 ($6.55 each)
2 x Twin Track Brackets (reinforced) :: Habo from STARK, but I guess you can find it in HomeDepot also :: ~$11 ($5.5 each)
NB: The IKEA VIKA KAJ legs have a maximum height of 90cm (~35.5 inched), so I needed to make two blocks of wood, that can can support the weight of the table when it is in "standing mode". This can be avoided if you can make or find some legs that can be extend to your liking - e.g. IKEA has the VIKA BYSKE that can be adjusted from 70cm to 107cm but that was not heigh enough for me. I am sure this part of the project can be done in a smarter and more beautiful way (see step 4).
Hex shank spade bit
Total cost: $60 + wood and screws
Step 2: The Table
Mounting the twin brackets and the height adjustable legs:
The total width of the table is 100cm, but you need to be able to lift it, so I placed the twin brackets 5 cm from the edge on each side, which makes enough room for me to comfortably get a good hold on the table and raise it to a new position.
Also I let the twin brackets go 4cm out on the back of the table, this makes it is easier to see and hit the holes in the hanging track.
After using the table a few times, the twin brackets began to lose their grip on the table - I guess this is because the IKEA VIKA AMON table is not solid (it's particle board!) and screws couldn't hold on too well. It looks like the only four areas where the table is solid, is the four areas that already are pre-drilled.
Solution: Screw a piece of wood (2cm x 9.5cm x ~54cm) under the table (where the pre-drilled holes are!).
Then just attach the legs and the twin brackets to that wood, and everything works perfect!
(I have used it for a couple of weeks now, and everything is still 100% stable.)
Step 3: The (extra) Wooden Legs
It is pretty easy and inexpensive, but not the prettiest solution in town (but with my budget, materials and time - it is maybe the only solution?).
To build the four legs i used a piece of wood with the dimensions: 212cm x 9cm x 4cm (~83.5in x ~3.5in x ~1.5in)
1) Cut 8 blocks of 22cm (8.66in)
2) Cut 4 blocks of 9 cm (3.5in)
3) Screw the 22cm (8.66in) blocks together two and two, so that you end up with four .
4) Cut a hole with a 4.5cm (1.77in) diameter through the center of each of the 9cm (3.5in) blocks.
5) Screw the small block s(with a hole in the middle) on top of the four 22cm (8.66in) blocks.
What I wanted to do, but didn't have the materials for...
1) Find two metal tubes of around 60cm (~ 24in), where the diameter of one of them is slighter smaller than the other.
2) Drill a small hole near the bottom of the tube with the largest diameter.
3) Insert a set-screw to hold the two legs at a fixed distance.
I guess this would work, the screw fixes the height of the legs, and when you want to change height, first loosen the screw, the lift the table, and screw it again.
Pleace comment on this solution - would love to hear if somebody
Step 4: The Hanging Track
Mounting the hanging system:
1) Measure the distance between the hooks on the twin brackets.
2) Mount the Hanging Track to the wall, so that the distance between the hooks matches the distance between the holes in the Hanging Track. It must be plumb! (Straight up-and-down.)
If you're awesome, you could place a bulletin board between the two "Hanging Tacks". It is very easy and inexpensive, and there are several examples on Instructables on how making your own.
The Danish way of doing it:
1) Buy a plate of cheap celotex and cut it so that it has the same width as the space between the Hanging Tracks. The height is up to you.
2) Find a nice piece of fabric and wrap it around the celotex.
3) Fasten it to the wall with a screw in each corner.
4) Pin photos of your favorite people all over it!