Thick plastics tend to get very, very brittle the moment you switch on the vacuum and in some instances can rip apart rather than stretch. You really need to super-heat the plastic and keep it hot when forming as the vacuum will cool it down dramatically. For this reason it's worth sticking to reasonably thin and highly flexible plastics such as high impact polystyrene (HIPS). 0.5mm should be ideal, just make sure you reinforce it (from the sounds of it, you already planned to do this) as HIPS is generally a soft light-weight plastic anyway (which makes it more than ideal for any portable if you're prepared to make a case from scratch rather than buy one)
I use it in all of my builds as it's incredibly easy to work with, hard wearing, dirt cheap, and you can cut it easily with scissors (vs other plastics that either can't be cut with scissors at all, or just shatter or crack when you do so)