Just tried it out - great game! Be warned that to select/play it you need to use 2 analog thumbsticks. So this makes it very difficult (/impossible?) to play with arcade controls 
Check this out:
www.quasimoto.comThey sell (IMHO over priced) full-sized arcade cabs with a regular TV and an xbox in it. If you look at the pics of the control panel at the bottom of each players controls (just to the right of the grey buttons) are a pair of sticks with a blue base, and an orange top. Those are the analog controls from the xbox controller. Basically their button layout is like an XBOX with the start, triggers, bk & wh buttons all done with buttons. THe joystick is the D-Pad, and the 2 sticks at the bottom as mentioned are the analog controls.
IOW, it IS possible. BTW, andone know where I can actually buy those kinds of sticks for my control panel?
Also, if you wanna stick an xbox into a real jamma cab, ultimarc sells xbox-to-jamma converters, etc. I don't think it's linked anywhere on their main pages, but I think you can search for xbox on their site and pull them up. They are pretty cheap too.
Brain21