It seems everyone has their favorite candidate for best wood, but I guess it depends on what you're doing. If you're painting, MDF may be the best choice, but if you're laminating, just about anything will do.
BTW, I'm still not sure why moisture is such a hot issue with some of you. I've lived with cheap particle board furniture all my life--everything my parents had was either second hand or from K-mart! Sure I've seen particle board practically crumble to dust after 5 years of neglect in a leaky shed, but I've never seen furniture of any kind deteriorate just from moisture in the air.
We had a "fake woodgrain" particle board entertainment center where we used to play the Atari 2600! Never fell apart. Lasted thru 5 kids, 2 carpets, 3 VCRs and countless game systems. They gave it to my sister when I gave them my old entertainment center a few years back, when I upgraded from Sears to Ikea (still cheap particle board, but at least it looks better). As far as I know, the old one is still in decent shape 20 years later...
Also, aren't people all over the country standing on particle board flooring? Walking, stomping, spilling, etc? Do those floors have to be thrown out every 5-10 years because people are dropping through them?
I went with 3/4" black melamine. I'm still in construction, but I'm liking the results so far, if only for the finish! It's going to look really pro when I laminate the sides with yellow Wilsonart. I got the recommendation for melamine from a professional cabinet maker who contended that it's the best kept secret. I'm cutting all the edges with a router and straight-cutter bit with the bearing at the top. Follows any straight edge or template with a super-smooth finish. Well worth the investment! Don't know why I even need the circular saw...just for cutting 2x4's I guess...