you could make this table with basically nothing but a chop saw, hand drill and sander. the welding isn't necessary (bolt it from the top and just tie the legs together without welding the corners).
i make and see so many tables with steel bases and wood tops, i got in to doing it the other way around. i have another video on instructables with a different, more unique design that features a 2X4 bottom and steel top.
this one is relatively simple. just cut four legs, two long sides, and two short sides. bolt them together, screw on a fairly heavy gauge sheet metal top and use something to brace the legs, if you want.
i apologize that this isn't a traditional "instructable-style" write-up; i make these videos for my youtube channel and try to share them here as well, for anyone who may be interested. this is a build for someone who would consider themselves "amateur" or higher with woodworking. feel free to ask questions and i will do my best to answer.
also, i'm banging up the guitar in this video to prove my guitar stand design works. you can learn more about the stand at http://www.youtube.com/timsway