It seems to me that a typical arcade cabinet is about 6ft tall.
I like mine up on 2.5 - 3 inch wheels or so. Its better on my back for the control height.
I feel the monitor should have some sort of angle on it, not straight up and down.
I think a 30 degree angle is about right for an angle.
I was playing Sky Shark one day on a dedicated machine and the monitor just seemed too vertical to me, I find it hard to play that long