Fake Bevel

Step 1

First create a circle with your eclipse tool , or with your selection tool then stretch the width of the selection to make and of size w=164 h=77. Then fill the area with color=CCCCCC.

When your done you should have something like this:

Step 2

Apply the following layer styles to the layer:

Gradient: colors=default

Stroke: color=5B5B5B

When your done you should have something like this:

Step 3

Duplicate the base layer and click "Edit > Free Transform" and adjust the height and with of the new layer to both 95%. Then remove the stroke layer style from the layer and check "Reverse" in the Gradient layer style options.

When your done you should have something like this:

Step 4

All you need now is something like a display to sit in the middle of these layers so we can add an lcd display. So add a layer in the middle with an inner shadow and you should have something like this:

This image should look familiar to you since its what I did to create the lcd display in my Devay Winamp3 skin.

Additional Step

You can increase the darkness of the gradient on the layers if you want by making the opacity on the gradient higher, this is how the layers look with a gradient opacity of 75%.