Sorry to dredge up an old topic, but I think this is a good source of information. I've found that some of the horizontal top-view racing games can work on a vertical cocktail cab, such as:
Bad Lands
Ironman Stewart's Super Off Road (+ Track Pack)
Super Sprint
Hot Rod
Embargo
My vertical cocktail cab has an 8-way, 3 buttons and a player start on each side. By setting P1 to the joystick + start button and P3 to buttons 1-3 I am able to play 4p Warlords (it's a poor setup but hey, it works) - I assume you can do Hot Rod, Super Sprint and Embargo the same way.