Ahh... these answers are more inline with what I was hoping for. I guess it helped that I clarified a few things.
@horizon
Well, the CRT I was looking for was for a 29"... just like the one on the X-Arcade (for comparison). As for the PC... That's usually what based PC's go for, as far as I can remember. Of course, I could probably build a base one for less and slap my old XP copy on it... Or I might be able to get away with installing my Win7 since it's been a while since I've installed it on my current machine. In any case, I'm not sure I'd get it much cheaper than $500.
I don't know if we can post other links here (I suspect not).... but I just read an article on the X-arcade tankstick (X-Arcade Tankstick Review) and they say pretty good things about it.
P.S. Your limited research is still better than mine

@Dawgz & Typefighter... your points do partially answer my questions. Like I said in my previous message... I just took about 6 months to build my HT room (large room)... did everything myself... the carpet... ceiling LED strips.. all the wiring... acoustic panels.... that was a lot of effort. So I have the tools. I'm also quite confident I could handle the technical part. I saw the series of videos here and the one on how to wire the buttons to that controller seem like pretty basic stuff... as the video said, visually overwhelming, but really not all that hard when you get down to it. That WOULD be the fun part, however...
The part that LEAST appeals to me is precisely the cabinet! Especially the paint job. That's one thing I'm not equipped for and not usually all that good at... that is, to create a cabinet that looks and feels smooth and professional looking.
So I guess I've had my share of projects recently... I also have other programming projects on standby... So I'm not necessarily looking for a new "challenge". I also don't like to get screwed by overpaying for something. I'll look into these cabinet links Typefighter sent... that might be an option...
Thanks again...