Checking the +5 voltage was the key to unlocking this quest 

Checking it with the multimeter revealed that when i powered it up there was only 4,03 Volt.
Adjusting the +5v on the board didn't effect the output voltage though 

But about a minute later the voltage had increased to 4,30, waiting a couple of minutes seemed to highten the output voltage.
When it reached 4,51volts the Wonderful NEOGEO screen was shown correct 

But the joy was temporary, pretty soon a beeping noise started coming from the PSU and shortly thereafter it shut down by itself.
Unplugging and replugging the cab repeated the previous happending.
Seems like my PSU is fairly unstable 

  Checked all soldering on the PSU board, some damage was found and repaired.
Unfortunately this didn't help med with my problem :/ Which component should i attack first? Capacitors?