I think the laptop splitters are definitely designed differently than what you would need, they probably need a suitably wired ps/2 port and take advantage of the 2 "reserved" pins in the p/s port.
How about this though?
http://www.trianglecables.com/7inps2ycabtw.html
Wouldn't this work for 2 ps/2 keyboards? I don't think I'd want to use them both simultaneously but who does on an arcade cabinet, you use either the controls or the keyboard...
Has anyone actually tested the adapter mentioned above. Basically, does it work and do the LED indicators on both keyboards function correctly??? I am interested in one, but they want $7 shipping on top of the $7 price, which is a lot to throw away if it doesn't work.
BTW, link should now be:
http://store.yahoo.com/trianglecables-site/7inps2ycabtw.html (for anyone new to this thread)