Probably an age-old debate but I am really surprised that more people do not use basswood plywood given the cost / challenge of finding balsa.
Has anyone done a weight comparison of 2mm balsa vs. papered 2mm balsa vs. 1.5mm basswood plywood vs. 2mm basswood? I bet that basswood is negligibly heavier than papered balsa (especially if you compare to the thinner basswood that is similar strength to thicker balsa - basswood might even win out on weight here). I am not going for any altitude records or anything so maybe I am not appreciating the impact of small differences in weight.
Basswood is so much more durable, you do not need to worry about direction of grain as much, can make more complex fin shapes that will not snap, can make massive fins/wings out of a single piece of basswood, etc... On the negative side, basswood is definitely harder to cut (I forget how easy it is to cut balsa till I get back to a kit). Also, I am by no means great at finishing / painting, but it seems that the tighter grain of the basswood with a bit of sanding makes it really similar to papered fins for finishing (especially if you are using a filler-primer as a first coat).
The determining factor for me is that I can get 200mmx300mm sheets of 2mm basswood for like $1 a sheet (20 sheet order from Amazon).
I would not both to upgrade a kit and swap out all the balsa for basswood, but in scratch-building I am using all 2mm basswood (1.5mm is more expensive for some reason).