I have had this Space Duel cabinet since 1993. It worked for a while. I tinkered with it. It worked for a while. I tinkered with it. It worked for a while. I lost interest in trying to keep it running about 10 years ago. Last issue, I believe, was the power supply board. I bought the new one so long ago, that I cannot remember which is the good one.
I've been considering MAME, but didn't want to gut the cabinet for a PC. Then along came the Raspberry PI 2. I was able to install it and only remove the monitor. I also upgraded the buttons - but I kept the original leaf ones. I did cut a couple of holes (gasp)! Two for the joysticks, one under the control panel for the cancel-game, two in the inner control panel behind the coin door for USB and Cat5 connection.
I used the RetroPie image, Emulationstation, and Adv-Mame. The monitor is big enough to host the vertical games as well. I run mostly pre-1984 games. This means that most two player games only use one control set (red). So, I mirrored red and green controls for most of the games. The red joystick is 4-way, while the green is 8-way. I simply use the control that is correct for the game. I also set up the left/right rotate buttons left of the joysticks to be same as pushing the joystick left and right. This way old button games can be played the right way. The coin slots work too!
BOM:
Raspberry PI 2
24-inch 720p LG LCD
Old computer sound system with sub (wired others to stock cabinet speakers)
Computer power supply (to run Pi2, marquee, coin door, and volcano button lamps)
White LED strip behind the marquee
Two ZD USB arcade encoders
Two Sanwa joysticks (Green is 8-way, Red is 4-way)
Convex arcade buttons (mistake when ordered, but I like them)

I pulled it out for the photo. It goes in the corner of my garage.

The joystick holes in the control panel are only 1/2 inch in diameter.

The Pi 2 fits nicely on the back of the monitor mount.
I've got a bunch of ideas for next projects - mostly based on reading your threads. But first, it's about time to get my old "Pub Time" dart machine working again. I got that about the same time as the Space Duel. You guys got me inspired. Thanks!