When it comes to dremels or rotozips, there are always differing opinions.
I use my dremel for many different tasks but when it comes to precision cuts and the handling required to accomplish it, its just not the best tool unless you have some sort of jig.
My experience in such situations particularly with MDF is the dremel tends to have a mind of its own much like a cat, child, or teenager in terms of where it wants to go when.
For the something as intricate in design as the example you outlined, a scroll saw would probably serve best but how you accomplish that on something as large as a arcade side piece might be a bit trickly.
An alternative might be to cut out a hole in the cab side then do your design on a seperate piece of material and fit that into the hole you cut, patch and paint.
....or mount it from inside for some "depth".
Just an idea.....
Steve