Wouldn't a 4:3 arcade game that isn't stretched out to 16:9 be easily playable on a 32" at close range? It would be about a 25" ish equivalent tube screen with black bars on the sides(or hide them with bezel). I'm going to try a 32" tv mounted vertically so my favorite vertical scrollers look good, blockoff the top part with the marquee, and for standard games ignore the small black bar at the top. The 'width' of the 32" mounted vertically isn't much at all, about a 19 to 20" screen size.
I have a rotating 27" widescreen. The 4:3 games come out to 22" diagonal.
My CP is fairly narrow, but the screen is recessed into the cab about 4 inches.
I find myself standing back farther for the widescreen games.
I'm not saying don't do it, just experiment playing that close to the screen first.
Rather than building it, then wishing you had longer arms so you could stand farther away.
A Deep CP and sharper angle would help, but watch the viewing angles on LCD screens.
The bottom edge is usually the worst viewing angle for them.