Wood works great if you do it like they are. Narrow pieces with opposing grain.
Some buy wide boards and rip them and flip them so the wood will oppose itself.
Woodworking experts tend to say nothing over 4" wide but I have seen old piano's with 12" wide slices of wood and they are still straight. One day I'll probably pick up a craigslist free pianoone just for the lumber.
There is a madnolin maker in southern Ohio who uses old piano wood for his craft. He claims wood that old is extremely stable and from what I have read about lumber he is correct.
I've taken a lot of consoles and organs apart. Most of those that had tube gear in them had laminated wood, the solid state gear was laminated MDF or Particle board.
One of the reasons for the switch to mdf/ plywood for speaker cabinents beside the price has to due with the grain, trees are no longer allowed to grow for hundreds of years so the grain is not as tight.
My home is over 100 years old and the pine floors have a wood grain spaced about as close to each other as a carpenter pencil would draw lines without touching. You'll have to look hard to find pine like that nowadays. Its still out there though.
I do have a Altec Lansing Series 7 cabinent and 2 Series 9 Cabinents that look like they used solid wood on the sides, top and bottom. It is possible they laminated it and if so it is one of the best laminations I have seen.
Once you properly seal wood that has been dried it will not move.
I make my speakers out of plywood. Preferably furniture grade since it has fewer voids.
But;
I've used exterior grade pine for some projects and presently my 1 cubic foot box, 1.5 cubic box and 2 cubit foot test boxes are made out of what ever the plywood was that I pulled out of a dumpster. Those are over 10 years old as are my first set of voigt pipes I made out of 1/2" exterior grade pine plywood. It was so rough I gave up sanding them smooth and used plaster to smooth the exterior up.
I make and sell replacement computer speakers made out of 5/8" T 111 exterior plywood. People like the rough texture. Lots of waste though since I don't use the milled grooves in my projects. Some may say 5/8 is too thin but with a dimension of
20" tall 5" wide and 6" deep plus the internal baffle nothing moves. I even own a set of stage monitors I made out of 1/2" plywood. Now those have a resonance haha
I will be making some 4" driver folded voigt pipes out of Oak this summer. Why solid wood? Because I can use a 45 degree locked mitre bit on the corners or even dovetail joints. I could learn to laminate but I like nice wood. If there is 1 flaw about my speakers it is that when I use plywood I can always see the layers somewhere.
I'm pretty good with my router and can get the wood trimed to that top ply and match those up but it is a PITA and the grain is not correct (if it has a grain) and the stain doesn't match.
As for the "sound" quality, I've yet to put my ear to any speaker cabinent and not hear sound. You just don't want to hear any low mids to highs.
True MDF, you really need special bits to work with that stuff. Most of the MDF you get at the chain lumber yards is not furniture quality. Still decent stuff but if your going to make a lot of projects you better buy the bits and power tools designed for it.
Most of the modern gear I have taken apart is not MDF, MDF is powder, most of the speakers I take apart is particle board. (not to be confused with chip board)
The last bass cabinent I built the sides were 3/4" MDF that had a fiberglass coating on one side. It doesn't sound any different then the second one that was built out of 3/4" plywood.
So, in my opinion, a properly sealed and dampened cabinent is what matters.
Build some speakers, once you do, you will quit buying them.
Safety Warning;
Always wear a good quality dust mask while working with wood. Carpenters have the highest rate of lung cancer. It isn't the stuff you sweep up, its that haze you see after you run your router or table saw. I got serious about woodworking 3 years ago and spent a winter in my garage making lots of speakers. I noticed it, did some research on it.
Now everything I own is on wheels and I move it outside to cut or join. Keeps the my lungs and the inside of the garage a lot cleaner.