Agreed, a handheld drill could have issues with MDF. I had a friend help me and we used a drill press on campus. Definitely didn't hit $100 in building mine, maybe $60 but yours sounds a bit fancier.

I have a couple possible upgrades/expansions in mind for mine, including a "side" shelf or something to put CDs and things on and I could always refinish it in a different way. I like your edge trim idea too, I may look in to that a bit.