Lawrence,
It's my opinion that they both have an affect on tone, but differently. I feel that the type of wood changes the resonating properties of the cab....while the size changes the resonant peaks...
In other words, a cab made of MDF isn't going to resonate...and a cab of pine or some other hardwood may resonante more than say birch...But if the cab is a bit oversized, the cab will sound like it has more girth.
I tell ya, to me...it's all bull anyway. As long as the cab is sturdy, has enough space in it, has enough breathing room for the open back or a sealed back....it should sound fine.
I'm sure there are combinations that dont work....but as long as you've got a decent enough sized cab, with a decent speaker, properly mounted it should work.
You know, I'm just finishing my first 1X12....I never aproached it with anything more than "Hey, I'll make it 18 inches high and 11 inches deep, and blah blah blah" I TOTALLY winged it. I practically determined the dimensions of the cabinet by what my table saw was set to...
I'm sure it'll sound fine to me
-Frank