Looks pretty good for a first project. Your right about the BC plywood. You end up spending more time and effort making some materials look good than you save in purchase price. I have had good luck with the poplar plywood from Home Despot. Takes paint well and it's quite a bit cheaper than birch ply.
CP, your project looks great, especially for it being your first effort. I normally choose 1/4 pegboard for the backs of cabinets that need ventilation, e.g. to cool electronic equipment.
I have been using HD poplar and (allegedly) birch plywood for my shop cabinets in 3/4" and 1/2" thicknesses. One problem with 3/4" material (sold as being birch) are some voids in its inner layers, but at its price ~$30 per 4' X 8' sheet I can deal with it. A second problem is that some of this HD material is prone to locally delaminate at fresh cut edges, usually near those voids. This may be due to reduced clamp force pressure during manutacture at those locations. A third problem is that some of the sheets are not balanced as to tension of the layers. A sheet that is flat when purchased may yield strips that are bowed. I cut one of the 3/4" I purchased into strips ~3" wide to make French cleats for the walls of my shop. Some of those strips are essentially flat, others are considerable bowed. Cutting a 45 degree bevel on a bowed strip is a nuisance at best, and a potential danger at worst. I switched to my table saw to bevel the last of the bowed strips since I could force it into position as it passed through the saw, and I couldn't think of a good way to hold it in place under a Festool Guide Rail to make a bevel cut along one long edge.. Moral of this long story is to cut the bevel on the strip before you cut the strip off the wider sheet with your Festool TS 55 or larger saw. Poplar takes paint (and stains) well. Despite the problems listed above, I will buy this material again since its price is about 1/2 that of other sources. But I wouldn't choose it for any fine furniture project or any shop project where strength and stability were critical.