For HD applications, I have always used MDF, braced and doubled at the baffle. Someone said earlier that it's wood pieces and glue, not true (they may be thinking of particle or chip-board -- don't use those).
[WIKI=Medium-density fibreboard (MDF) is an engineered wood product formed by breaking down hardwood or softwood residuals into wood fibres, often in a defibrator, combining it with wax and a resin binder, and forming panels by applying high temperature and pressure.[1] MDF is denser than plywood. It is made up of separated fibres, but can be used as a building material similar in application to plywood. It is stronger and much more dense than normal particle board.]
Anyway, there are techniques you can use to make MDF solid as a rock. It paints perfectly. Smooth as hell. Easily routed, etc.
If you DO use plywood, here are a couple tricks.
-When you run plywood across the table saw, always run the "pretty" side up (bad side to table top).
-Run your saw blade all the way up! Contrary to the "one tooth rule", this will significantly reduce edge splintering.
-To further reduce edge splintering, put two layers of good quality masking tape where you about to cut, mark or position your piece, and then cut. When you remove the tape, it'll most likely be very clean.
-I have gone as far as to make a 1-3 diluted Elmer's white glue wash, and paint the edges of the plywood (then let dry for an hour) before sanding. (helps with edge splintering from the sander at hard edges)
This is my home entertainment center that I designed and built last year, it's primarily birch plywood. The large black squares you see on either side of the components are 12" subs...those are encased in MDF, THEN surrounded by the birch for aesthetics.
(Funny, the picture is over a year old, but the TV headline could be current from this morning, huh? lol Some things never change!)
--Radar