Thanks for the ideas everyone.

I would do a few things differently.... After making a bunch of cuts to get the right fit, I know where it needs to be cut now. I would use a table saw to make clean and straighter cuts.

The panel is rigid with the wood strips, but i have alot of screw holes now too.

I hate to hack up a good panel and this one was a little dry and crusty on the top. If I did fill and smooth this one, I would need to add some type of texture to it.

The arm rest link was exactly what i was thinking. Make a wood block/plug with a vinyl wrap. Its nice to see a completed Idea like that...