You may find that building a topper to fit that table (placed within the confines of the existing rail) will be a much easier and cheaper solution than trying to disassemble and upgrade it (felt, padding, or rail).
The construction techniques used on most of those types of tables typically do not result in something that is easily upgraded, and just opening one up often reveals a significant can of worms.
New foam, new brybelly SSC. Looking pretty good IMO, though the tradeoff between cloth tension and gap width on a folding table is tricky. Didn't want to retrofit a hard edge, but it doesn't catch cards or chips very easily after some testing.
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