I'm using an RPi3 in my cabinet build. It's been a mixed bag, performance-wise. To my surprise, I can't get Killer Instinct to run anywhere close to a playable framerate, though maybe I just haven't tried it with the right emulator. Yet Virtua Fighter, after some speed weirdness in attract mode, performs flawlessly. I wouldn't have thought that any 3D games would be on the table.
I might try to test its limits a bit more — Die Hard Arcade, for instance — and if I do I'll report back.