the plywood they sell in 1/4"- yes, it chips on me,too. its a very very thin veneer of .......im not even sure its a species of birch.
ive only used RT blades on it,though, and its been some time since ive used that ply for more than a backer. a 2 way cut blade might make less chipout
what are you using it for, edward? if its for portrait work, the chipout might not even be seen after a backer goes on.