I've used plastic wood once or twice and found it to be a bit of a pain to work with. SculpWood is actually a bit easier to deal with, especially if you can't create a form/edge like TOK used. If you can figure out how to keep the edges straight, Bondo is another great way to go.
Unfortunately, corners take a ton of abuse and none of these products are really up to it. Even with a corner protector, I would expect that you'll end up repairing the corner again down the road. A repair with wood would be more permanent, but also quite a bit more work. The idea is that you'd enlarge the cut and square it up with a saw. Then you'd cut a piece of wood that exactly matched what was missing and attach it to the cabinet using glue, screws, and glue blocks. If there were any small gaps between the patch and the original corner, you could fill them with Bondo, SculpWood, or anything else you happen to have around.