Designing Kitchens and Bathrooms - cabinet refacing

I'm planning on redoing both kitchen and bath cabinets (vanities)...I'm considering cabinet refacing. Has anyone done this and how was the experience? Any comments, suggestions, or recommendations would be helpful.

I did this a few months ago to my kitchen cabinets. I used a birch veneer and stained it to match the new doors I was fitting. On the back of the island I used 1/8" plywood and stained that to match. The veneer looks ok but the plywood looks better.... it's smoother, less of a uniform pattern, easier to work with, just generally more "finished" looking. When I get around to doing my bathroom I will use plywood for everything and not bother with the veneer. I used veneer edging tape for the fronts of the cabinets. Hope that helps you to decide.