I DID try it the way everyone suggested, I spent lots of money on MDF at Home Depot to create a home made monitor mount but could not find long enough monitor screw insertions (or whatever you want to call them). The thread on back of the monitor was very hard to find and when I did find them they were in small sizes and did not fit through the 1/2 inch MDF mount and monitor. They did fit through the quarter inch board I purchased but it was too weak of board and I had a strong feeling it would crack over time, so I decided to try it a different way to see if it would work better, and it did.
I mounted the metal X-shaped stand to the board on the cabinet using metal straps, and I used a very sturdy horizontal wood to support the back of the screen.
It may not be the conventional way, but trust me, that screen isn't moving ANYWHERE. No ghetto wires or anything! =)
When I show off my arcade machine I will take off the bezel and show you how it looks, and how effectively it worked.
I definitely tried it you're way first. I got all the backboards I purchased to prove it, lol.