Afternoon update:
I worked another three hours, and made a bit of progress. I had to rip some material down to 30-1/4" with my circular saw, because my table saw only does 30" and smaller rips. Okay, it
can do 30-1/2" rips, but it's a bit uncomfortable at that point. So here's my improvised rip fence:
At some point, Makita (my dog, not my router or circular saw) was curious what I was doing in the shed. She looked confused about most of my tools, and clearly didn't recognize her namesakes. Come to think of it, I almost named her Ryobi.
Next, I cut out the side inserts and tested them for fit. The gap around the edges is to allow for the thickness of the carpet. You can't really tell from this picture, but I had to add a 1/4" MDF shim to the back wall of the box, so I wouldn't have to waste as much material:
Next step was to waterproof the side panels:
I did it on my front porch, and didn't mind if I spilled. After all, that clear Tru-Seal is the same stuff I use to seal the porch every spring. I stained each side with a thick coat, and two or three coats on all the edges. The edges tend to soak up a ton of stain.
I plan to waterproof the entire box before carpeting it. Since the side panels are now ready for carpet, I thought I'd get them drying as soon as I could. My reason for waterproofing it is two-fold:
1) The owner may choose to mount a cup-holder to the top of this at some future date. If that is the case, I don't want spilled drinks warping the wood. No, I won't go as far as Scotch-Garding the carpet, since I doubt it holds much moisture.
2) The owner has a lifted truck, and in case he gets over-zealous and takes it for a submarine ride (I can't imagine why anyone would do that...

) he'll appreciate the forethought.
That represents another three hours of work, bringing the project total to 14 hours. Now I'm going to take a break and let the stain dry, there is about a 75% chance I'll get back to this later tonight. If not, my work week doesn't start until Tuesday, so I will have updates by Monday at the latest.