A REALLY simple router table

So far, I have been using the router where a router table has not been necessary, or indeed usable.
Now I am building a cabinet and need precise repeatability, which has been impossible to get using my old methods. Therefore I am building a router table, but without wanting to spend much money or time on this first attempt. My questions to you experts are
1) is there a simpler design available?
2) is this design workable?
3) should I do anything differently, or use extra care with some detail?
4) is MDF or plywood (both approx 16 mm thick, well sanded) best to use?
5) how is dust extraction best done?

The parts to be used are the board (MDF or plywood) size 500*700 mm (or smaller); four legs 90*45 mm length just enough to comfortably fit the router under the board; fence from a 45*45 piece of wood, as long as the table is wide; and the base plate that is already on the router (some dort of plastic, 2.5 mm thick). Also bracing material for the legs, 4 long replacement screws to hold the router to the base, and 6 C clamps.

The router plate will be placed flush with the board surface, without possibility of lateral movement. The actual base will be used to mark where holes through the board will be drilled, for the long screws and for the router bit(s). The fence will have holes in the ends to accomodate two C clamps that fasten it to the board. The legs will have holes in the low end for C clamps to fasten them to a workbench (or whatever).

When accessing the router, the 'table' will be turned upside down (with the fence - if then fitted - let hanging outside the workbench).

When I need to repeat a fence position, I will mark it with a knife on the board (putting clues when needed to find the right set of marks again).