I use a cheapish woodworker's bench similar to the HF one several here have already posted. (Sjobergs, I think) Mine came w/o drawers, so I built a simple box cabinet to fit below the top. I left 6" or so between the top of the cabinet & bottom of the bench as shelf space and so I could use the bench dogs & hold downs if I wanted.
I prefer something other than plywood for a top simply because the top layer of veneer is thin & prone to damage & excessive wear. If/when I build a 'nother ("It's never done; someone just comes and takes it away"), I will probably buy a solid wood countertop from IKEA. They can be had about 1-1/8" thick and are pretty affordable, especially if you live near enough to go pick it up & save shipping.
While i've certainly used framing lumber for legs & bases in the past, I've become more wary of the readily available stuff because the drying & storage is often sub-par. This leads to warping & twisting that translate to thinner benchtop materials. Remember, wood is hygroscopic & will always take on & give off moisture, so it will always move. Finishes & sealers will slow this down but never stop it completely. Mechanical fastening is good for assembly, but won't stop wood movement either. If the wood wants to move, it's gonna, and your screw or bolt usually just provides a good splitting point...
Plan accordingly, learn from experience, and accept the fact that you will likely build another bench - eventually! In the meantime, git 'er done and crank out some rounds.