It is a little more complicated than just plywood vs 'pressed wood'. First you really need to determine what type of cabinet style you want. If you are going with a euro or frameless type cabinet (think ikea) chances are they will be particle board core with melamine or laminate faces. There is nothing with this for the most part, especially if the parts are at least 5/8" thick. Where you will run into problems is if the particle board is exposed and rests on the floor or anywhere it can wick up moisture easily it will expand and eventually fall apart. This will be a problem with plywood too, although much lease pronounced, it will warp from moistuure as well.
most residential kitchens in my area tend to be cheap face frame type cabinets like you find at lowes, with 1/2" plywood sides and bottoms, with hardwood face frame members and wood doors and drawers fronts. Sometimes they may have particle board sides with melamine faces to looked like plywood. There was a post recently on the forums of someone whose tenant left a hole in the side of their rental's cabinet and it was particle board. Had it been plywood this would have been hard to do that type of damage.
I am building cabinets for my kitchen now and I am using 3/4" prefinished uv maple plywood and I'm making poplar shaker style doors with mdf flat panels. I could have easily gone with particle board melamine, and all mdf doors, but the plywood will be more durable, and less prone to moisture problems, and the hardwood doors will handle wear and tear of my toddler as well.
I also am an engineer for a cabinet shop so I can design, program, and cut my on cabinets on a cnc, so I'm a little biased and have a few more choices than most.
In the end, it's more about th e look and market you are going for.