Yep -- a compound miter saw is the way to go. You don't need the extra capacity of a sliding compound miter saw, and in fact, the sliding mechanism introduces some inaccuracies -- particularly in cheaper saws.
I'd look at a 10" saw for most arcade-related jobs, but you might want to consider a 12" saw if you're eventually going to use it for other stuff around the house (like crown molding).
Another option is a radial arm saw, which will give you a lot of the flexibility of a table saw too. The main drawback is that the radial arm saw is significantly more expensive than a miter saw, and it's way less portable.
My $0.02, and worth every penny. :-)
-- Chris