Definitely made of MDF but an insert tells me its compliant with California's standards for formaldehyde, so that's better than usual for MDF. 

It was easy enough to put together (took a couple of hours) and it looks very good. I'll probably buy another one to match. 

The handles on all of the lower drawers are immobile- they stick out just far enough for you to grab them, but they are not hinged at all.  It's a solid formed-metal piece.  The two feet in front are molded plastic with a small but visible seam, but sturdy.  Most of the back is MDF but the top 1/3 is cardboard like the stuff that backs most ikea furniture. I like the plastic drawer bottoms. They seem solid enough for clothes, and waterproof unlike cardboard. 

The rails were pretty easy to install and glide well. Sometimes I really had to fish through the multiple bags of parts to get the correct number of fasteners, etc.