Steve H,
Building with a dado joint would be stronger and easier than using a rabbet joint at that paticular location. (IMHO)
What profile shape are you going to build, and how tall is it?
If I was commited to using 3/4" solid walls that were going to be skinned over with sheet metal on the exterior... I wouldn't be willing to nix the dado joint, just to save 2" in overall height. (Again IMHO)
If you are going to use a rabbet joint at that location, have a good selection of bar clamps on hand and make sure the sidewalls are perpendicular to the floor when gluing/screwing up the joints. (Make sure that everything is square)
Even if you had to gang one or more sheets of plwood together with a spline joint or scarf joint, I would opt for that along with the dado joint vs. the rabbet joint. (Again... of course IMHO)
IMHO=In My Humble Opinion (I guess it could also mean In My Horrible Opinion

)
I just feel that a dado joint is a good structural joint. It is stronger than the glue and or screws that hold it together. The rabbet joint, on the other hand... I just don't feel that it is any better than a butt joint. I just don't see any structural properties to this joint, when compareed to the dado joint. Take away the glue and screws, it will fall apart. (You guessed it...IMHO)
Ive used a rabbet joint in cabinet making on the back side of cabinets as a way to be sure that everything is square on the cabinet.
I don't mean to disuade you from using a rabbet joint. I just feel that a dado joint at this location makes better sense.
Hey, It's your project, so do it the way you want to do it. Talk can be cheap, but there is some excellent wisdom here on this board.