I got a substantial amount done last night on this (and I finally took pics!)
First off, I laid out the felt. I decided to go with the staple underneath method. I was just not a fan of the glue method originally used, because once the glue lets up, there is nothing there to hold tension on the felt.
That was the end of the 'easy' part though. As usual for me, things don't just magically fit like they do on the woodworking/home improvement shows. The pocket holes were a bit too snug for the rings I had. After trying to force them for a while, I cracked out my problem solver - the belt sander. I swear I have used the sander on more plastic than wood.
After beveling the liners, I drove them into the table with a hammer and a piece of scrap plywood.
After that, I thought it would be a breeze to insert all of the bumpers. Wrong again! It appears the bumpers I got were made for a 3/4" tabletop. Mine is a higher quality 1" top. So, I had to make some modifications to the table as seen in this photo. Do you know how hard it is to use a spade bit with a 3/8" starter hole?
I had to quit here because I couldn't drill anymore due to noise.