Now that the two side panels were assembled, glued and dried it was time now to cut the dadoes for the fixed and adjustable shelves as well as the back panel. This went pretty much as the instructions specified. The dadoes across the sides were just under 3/4" to accommodate the dividers and the dadoes along the back two edges were 3/8" wide by 1/4" deep to accommodate the 1/4" (actually 3/16") oak plywood back.
Finally, eight 1/4" holes were drilled along the each of the 4 rails approximately 2" apart to accommodate the adjustable shelf. The drill press came in hand here and made the 32 holes which needed to be drilled a breeze.
That's pretty much it for the panels. Next step is to cut the dividers to size, cut the back panel and adjustable shelf and assemble.