My first version of my cabinet was about $300; it was a conversion, and came with a lot of the expensive stuff like a fully-populated dual-fighter control panel, the bezel glass, coin door, etc. I used junk computer parts from my closet (Athlon 600, 500MB hard drive, hacked keyboard, stuff that was NEVER gonna get used again, running on DOS). Fully half the cost was buying a 19-inch PC monitor. It worked well, life was good.
Many times since then I've wished I had quit while I was ahead.
But oddly enough, some cabinets are just never done. First thing to start to go was the 2" PC trackball I had hacked in there. So I replaced it with a 2-1/4" PC trackball, but it needed new mounting holes; trying to retrofit it broke the control panel. So I rebuilt that. Then I never liked the way the joys that came with it (Ultimates) felt, so I upgraded to Happ Supers. Control response was sluggish, so I redid the keyboard hack. Then the Act-Labs guns came out... had to re-do the cabinet with Windows. But now the 600 wasn't sufficient (Can't play Area 51 or Maximum Force on it, and what point are the guns without those?), so in comes a new motherboard and CPU. But the serial trackball doesn't like the new hardware, it's wearing out anyway, and darn if Happ's Golden Tee trackballs aren't on sale. But that trackball won't fit, so now it's time for another control panel. And hey, look at that cool sideart available on eBay! Gotta have that! My desktop monitor's failing, so I buy a Wells-Gardner for the cab and take the 19" out and put it on the desk. Now transparent buttons are out... hey, look, a pair of Pole Position wheels on eBay...
I'm in about $1200 now, but I don't really feel like I have four times the functionality of that $300 cabinet. If I could go back in time three years or so... nah, I'd spend the money anyway. Who am I kidding?
--Chris