The only reason I would stick build a cabinet is if there was no other way. What I mean is that there may be protrusions, either in the structure, or with an array of plumbing or venting, or ducting, or piping, to include electrical, that would make installing a completed cabinet in place a hassle to fit (as in cutouts).
Framing out and cladding the frame is in many cases more work and allows for more deviation in exact measurements and spacing. Framework still has to be connected to itself. With whatever thicknesses or dimensions there are to work with there is a loss of space. That method also can make installing drawers and shelving more of a challenge.
My recommendation would be to start with 3/4" plywood, and join with rabbets and dadoes with glue, clamps, and fasteners if possible. A frameless cabinet can be made which utilizes less hardwood than a face framed one. If the cabinet has to fit into an alcove, scribe pieces for the fronts can be configured to fit walls that are out of square.
I find it easier to work on fixtures in the openess of the shop space. If the initial measurements, and details of the area are correct, installing becomes matter of fact. Finishing becomes easier, than done in place.
If there are surfaces of the cabinet, like the sides that will be visible, then I would use Cherry plywood if the fronts/doors/drawer fronts will be Cherry. With extensive experimentation, it's possible to use a species other than Cherry plywood, and make it look like Cherry plywood. For a DIY'er, I'd say doing that would be a stroke of luck to come even close.
Here is a thread with some additional feedback: