Wow I should have told you guys about this before.
I originally used a keyboard encoder (see pic) and a mess of wires to send the inputs to my mame acrade machine. I found the LPT-Switch and made a small circuit board (see pic) to allow all 60ish of the inputs to be availible, in case I wanted to add more stuff later.
The board is the type that has holes in it but no tracks, cheap from most electronics shops. The header bloacks are 10 pin types that used to be used for the serial headers on motherboards.
The work took some time but was worth it in the end. As I have already added some extra features, keys, which would have been a pain in my keyboard encoder days.
Now my next project will be an LCD screen that displays the button configurations, start screens, etc of the game (need suitable multi monitor interface); and/or some nice voice recognition to select games from the menu (limited success so far, using XP's voice stuff).