The only issue I can forsee is the probabilty of the door staying flat. Plywood rarely stays dead flat in sheet form unless firmly secured to a substrate that won't move, I fear that the 3/4" face panel will not be enough to do so.
Could you make it more traditionally, solid stiles and rails with panels that are moulded only on the outer face, these could be easily set into a groove or rebate and the rails joined to the stiles with good old Dominoes. I suspect it would be a quicker job than the plywood faced and lipped idea.
Ball catch at top only might be better replaced with 2 or 3 good mag catches down the edge.
PS. Check out this old thread of mine 330 Domino's