Finally built my rack, figured I'd post a couple pictures since I got the idea from the guys on the forums.
Mainly, Halfdawg for his design and Mykee for his preaching of using thumb-tacks for holding the heat tape down in the recessed channel.
Melamine is 5/8" thick 48" by 18", 32" high. Bought 2 sheets and had them cut at Home Depot.
Recessed 4" flexwatt into a 5" wide by 1/8" deep channel, held in place with thumb tacks.(belly heat)
Screws - #8 1 3/4", pre-drilled everything.
Once all assembled with the dividers, I siliconed all inside edges hoping this will help prevent any warping from the humidity.
This rack works well for my moderate collection, beats the hell out of lids. My next rack build will however be a little different now that I have a better understanding of the system.
Let me know what ya'll think...