I like 1/4" Quench & Tempered hardboard for workbench tops, glued down with contact cement. Mine needs redoing soon, but has stood up to all sorts of abuse for better than 20 years including being stored outside for awhile.
My lathe tables I like a metal top. Or at least a chip pan made of metal, large cookie sheets work well. My current lathe has a deep metal drawer that acts as a chip catcher, well at least some of the chips, the rest end up in my hair and all over the shop.
Now speaking of all over the shop, got a fly cutter set for the mill not long ago, first time I used it, I had chips coming out like casings from a machine gun. I am still picking short curly chips from dark corners of the shop.
Walter