IME, MDF rings at certain frequencies so by itself doesn't work very well for 'table stand. I think you're on the right track with trying to isolate the MDF from the Rega.
I've built my own equipment and turntable stands using maple and walnut but they also incorporate sandboxes as shelves. I'm also building a pair of speakers using maple and walnut. However, maple directly under my turntable did not work well at all for me. It smeared notes badly and killed dynamics. Granite shelves in the sandbox worked much better for me. Similar experience with arm boards I made from maple and one from birch ply. I agree with the other posters that much denser, exotic woods work much better. Cocobolo, for example, is excellent.
I've built my own equipment and turntable stands using maple and walnut but they also incorporate sandboxes as shelves. I'm also building a pair of speakers using maple and walnut. However, maple directly under my turntable did not work well at all for me. It smeared notes badly and killed dynamics. Granite shelves in the sandbox worked much better for me. Similar experience with arm boards I made from maple and one from birch ply. I agree with the other posters that much denser, exotic woods work much better. Cocobolo, for example, is excellent.