Ugh, I really don't like anything designed to be precise made out of MDF. It is susceptible to expanding and weakening after exposure to moisture. If It could be done out of wheatboard or something more reliably able to keep its dimensions, it's interesting. Maybe MDO?
I once spent a day making a perfect, precise table and fence out of 3/4" MDF for my radial arm saw. It worked great until the next summer when the humidity in the garage swelled the edges almost 1/8". Maybe some type of sealant would have helped. Don't know.