Hi all,
This is a pretty basic wiring question but, well here goes...
Say I'm using the iPAC4 and have the wires connected to it through it's handy little connectors. Now the other ends of those wires connect to a bunch of buttons. But say I wanted to have 1 or 2 sets of wire activate without attaching them to a button -- maybe even by just touching 2 wires together. Would that still send the same code to the iPAC that would be sent if they were hooked up normally?
Why the hell would I want to do this? Actually it's a non-arcade related project. 
Not sure if you get the picture or not.
codes are not set TO the I-PAC, the I-PAC sends codes TO the PC.
Running a straight wire from an I-PAC terminal to ground will generate an apparent stuck input (a constantly depressed corresponding key).
Of course you could use any kind of switch in place of the button and have it work, if that is what you mean.
Also, key repeat in PS/2 mode is only enabled on the J1 Up and J1 Down inputs, so wiring across the P1 SW 5 inputs will produce a held-down Z key, not Z Z Z Z Z, etc.