I found a Gauntlet Legends pedestal and control panel and I am considering buying it. There is no pcb or anything included.
Gutted could mean nothing but the wood and side art or it could mean no board but includes everything else (monitor, control panel, power junk, marquee, etc). If you can sell off the stuff you don't need, you can offset some of the cost of the cabinet.
If it's completely gutted (wood only), I'd think $200 is pretty steep. On the other hand, you will spend that much plus time to get an empty shell, so... 

Assuming if the OP is getting the pedestal that is pictured on the left here there will be no side art, monitor, marquee, etc. Now how big of an LCD were you planning on using because the whole reason behind having a pedestal or Dynamo showcase layout is to put viewing distance between the player and the screen. Dynamo showcase cabinets typically were (30" or greater in size IIRC). $200 is pretty steep but not bad if the wood pedestal portion and T-molding is in good shape. Then all you would have to do is slap a fresh new coat of paint on it and you should be good to go. Now other things to consider with the showcase setup it how to join the pedestal part to the other half with the monitor.
Again, I am going to link some more of Paladin's build so you can get a more clear picture of the final outcome.

Honestly a pedestal isn't that hard or expensive to make if you have the measurements, tools, experience and skill. My brother in-law made my pedestal for my 4 player control panel in like 30 mins. 1 sheet of 4x8 MDF cost like $25 from homedepot and I had tons leftover to do my control panel top as well.



If I was to buy this I would lowball $50

To give you a little bit more perspective, I could have bought this gutted Rampage showcase cabinet for $75cdn off kijiji


If I had seen this before I started mine I would have been all over it. I've will probably spend that much in MDF, T-molding and paint in the end. I spent $50 alone for my coin door

Not to mention how much time it would have saved me but oh well. The whole process of making everything from scratch has been lots of fun and a learning experience everytime.