I decided that I should probably use plywood for the core of this piece. Something tells me it will be sturdier than MDF for supporting the TV. So essentially all I got done today was making an open box, or really something more like a trough.
Cant say its the most exciting looking thing right now, nor did I use any sort of jointery techniques to assemble it. Butt joints glued together and tacked down with brads. But it seems really sturdy. Next, I will wrap it in layers of MDF, which will provide the stair-stepped, Empire State Building effect as well as act as rear shelf supports.