Melamine is another option...which has a particle board core and is already finished in black. I have also read about black melamine with a plywood core, but I haven't been able to locate any.
Material thickness is also something to be aware of with respect to T-molding. Mdf, melamine and particle board are .75" thick, so you will want to finish with paint or vinyl to have the .75 t-molding fit.
With plywood, it is usually less then .75" thick (sometimes alot less depending on where you get it)
So it makes a good candidate for laminate (due to the laminate thickness).
Finishing determines what material I use.
From a cost perspective, when i cut a cabinet for someone, they usually want black melamine since it is already finished and is inexpensive for raw materials (~$135 for 3 sheets of melamine wood, feet, and T-molding). When i cut a cab for myself that is a keeper, i use high ply finished plywood and prime and paint the wood before cutting. Materials runt about ~$460 for my preferred configuration.
As far as the plywood not being straight, i found that if i start with flat material, as long as I store it flat and not on edge, it will stay flat.
Thanks
Brian