I was in the same boat, there is monsterarcades that sells an overpriced cabinet that is in between a Sim rig and an Arcade cabinet, way too expensive for what it is, you could buy a racing seat and rig for way cheaper and it will look the way it’s supposed to look, if only someone would produce a Sega shaped cabinet, although the plans for one are in one of the stickies.
There is another guy in Australia doing some, more Arcade like but shipping would probably be crazy.
I found a used cabinet and I’m currently having it gutted and retrofitted with a G29 setup, plenty of people have done it and it opens you up to a lot more games and a lot less problems. I wouldn’t find that to be a waste at all, nothing like sitting in a real cabinet I grew up with.
I would be open to using original hardware but seems very complicated , Im not sure it works well with a lot of games.
From my understanding, it would be worth using original hardware if you wanted to restore a game like Daytona, but that it makes more sense to use a Logitech type setup if you want a multi racer or the ability to play newer games.