I have a plinth for my TD124 made with a permali core (permali is a very similar material to panzerholz, manufactured in the UK and with a finer grain/more layers per cm,
but very similar density and damping, see link), wrapped not in veneer but in solid wood (sapele to match my speakers). The armboards are permali with a layer of stained walnut on top.
Permali is extremely dense - the plinth alone (no motor unit or armboards fitted) measured at 40kg (about 88 lbs for our non-metric friends) and with motor unit, Schopper platter, armboards and tonearms fitted tops off at more than 60kg. It's a two-man lift to place it on its Townshend Seismic Pods.
It was a bit of an experiment (an expensive one) but I was thoroughly delighted with the result - the deck is substantially quieter in use - the whole noise floor has been lowered, music seems to emerge more freely with more detail ... I would recommend anyone interested to take the plunge.
I didn't do the work myself as the material is extremely hard and requires proper professional tools to work it. (Was done by Russ Collinson whose work is certainly known to some of the Brits here - he does work for a number of hifi manufacturers as well as for private individuals).
Shown here in its various stages of construction: