I do agree, for new, that's a pretty great price.
I guess I wasn't very clear in what I was trying to solve...
I really want to balance quiet/cool running with price, and considering that I want to run fairly old games, we can get pretty cheap.
I frequent one of the local Goodwill Goodbytes electronics stores...an incredible store at that. They have in stock a shelf full of "as-is" pc's that come with 1G of ram, no HD, and depending on the "color of the week" and the pc's price tag's color, they can be had for as little as 20$ sometimes.
To me, the problem is actually that they're typically "too powerful", and thus requiring more cooling than something like a 486, p1/2 would need. These pc's are typically duo-core and faster.
At the same time, they also typically have 1st gen Xboxes and ps2's, both typically around the $20 area...and with these as an option, one could simply wire to the controller, negating the need for even a cheap Kade.
So, if you were going that bottom-basement pricing, what would you go for? a cheap pc that's going to need some level of cooling (especially in a small cabinet like the Out of Wall Space designs), a Pi that's going to need additional costs such as hdmi-vga adapter, SD card, and the management/risk of corruption that brings? An older console? something I'm not even thinking of?
I've picked up a few of the Namco 5/1 6/1 game devices for just a couple of bucks, and they even offer an interesting option to this as well (I'm about halfway through building a small desktop cabinet out of one currently).