First, I purchased a Maxell dock for $25.
I held the base of it over a bright flashlight to peer through the white plastic (to see where it was safe to drill holes in it).
I drilled holes on both sides of the dock where the ipod mounts to it.
I used a dremel to cut out a hole in the console that fits my ipod as well as screw holes that match up with the holes I drilled in the dock.
I cleaned up the edges a little bit, then bolted the dock to the underside of the console.
It looks great, but my thumb doesn't get all the way around the navigation very easily where I have it. If I were to do this again, I'd position it half a centimeter further back.
* Clean up the edges of the cuts, maybe with some rubber lining
* Enamel the bolts and plastic black
* Disassemble the 12VDC-to-9VDC adapter and wire it up directly to a power source (not using the lighter adapter)
* Get a nice head unit with an input port instead of using a tape adapter with the stock stereo