In the case of arcade games it is going to be darn near impossible to pin down ANY actual damages.
Ooops, I emulated Ms. Pac-Man and Namco sued me.
Namco does not currently offer the software I was emulating, although they do offer a SIMILAR (but different) product. Matter of fact, Namco NEVER sold the software I am emulating, as there never was a Namco version of Ms. Pac-Man for the arcade, only a midway version.
Now here is the fun part. I know Namco sued the rights to the Ms. Pac-Man character ETC off Midway, but they never sold it for the arcade (Class of '81 is a totally different software revision with features the original never had), so WHERE IS THE DAMAGE?
Hmmm, how about if I had a copy of Pooyan. Lets see, arcade version not available since 1983, although there was a new revision included in some various expanded software packages available in the 1990s.
No court in the land could possibly hold that Windows 95 and Windows XP PRO were the same thing, nor could they hold that bootlegging Windows 95 would have the same impact as copying Windows XP Pro.
It is the same thing with the arcade games. Even when they DO rerelease (for that 1 percent of games that got rereleased), it is always a new software version.
Then of course there is the very sticky wicket that the original machines were not sold with EULA's of any kind. Which makes it tough to define what rights the companies REALLY have 25 years later.