There are two main reasons why you don't want to use particle board:
1. Structural integrity is far lower than MDF, and as such, it is nowhere near as dead as MDF is. Particle board is filled with voids which create weak spots in the wood, and allow it to resonate. When you start putting serious pressure on the enclosure, these voids can cause the enclosure to fail.
2. MDF is called a fiberboard because it's particleboard on a microscopic scale. The wood is not chipped then pressed, it's turned into a powder and pressed. that makes it effectively as close to a true wood that you can get without breaking the bank. Particle board's chunkiness means that when you go to adhere it together, there is far less for the glue to hold onto. As such, if you go to stress a joint on MDF or a high quality plywood, the wood will snap before the joint will (it's not hocus pocus, I've tried it). On particleboard, you won't need much stress to snap that joint apart since the glue isn't holding the two pieces together into a solid joint that's stronger than the wood; it's gluing the particles together which is about as strong as just screwing the wood together (if that).
So yes, every post in this thread thus far has been correct, and I cannot agree with mlstrass more in that if 9 dollars to do something the proper way is too much, then just stick to your coaxials. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif