Richard,
I used 3/4" inch thick MDF in college; I had Home Depot cut the huge sheet into 8"x10" panels. I ended up with a zillion (I can't remember exactly how many) panels for less than $20.
Post # 6 by Sharon Knettel in this thread explains the difference between MDF and Masonite:
MDF (Medium Density Fiberboard) for large art panels
I really liked using it; the only caution I have is that if an unprimed panel gets wet or if a corner gets dinged, the layers can start peeling apart.
Anna
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