ive done it before mike. you can stain it with whatever you please...just remember that the mdf is extremely pourus and will suck up stain quickly. one other thing to not is the fact that when moisture hits mdf, the particles within the sheet expand, giving it a smilar effect to raised grain on actual wood. same goes for any type of lacquer/poly you apply over the stain. light sanding is nessecary between coats to knock off the raised particles. the more coats, the better the surface durability. ive seen it in high traffic situations such as cash wraps in retail stores, and it seems to do just fine.