That guy has over $325 invested in his costume. It doesn't even look that good.
As with most projects, someone had to be first, and he will invariably spend way too much and make many mistakes. That person will pave the way, show what does and doesnt work, and give the rest of us ideas on how to improve on what he has started. Without those kind of brave people with money, the rest of us would never attmept such things for fear of cost and failure.
I would never have attempted to build my own MAME cab if I hadnt seen 20 or so other cabinets. I took ideas from them all and sprinkled in some of my own ideas. It has cost me more than I originally planned (dont they all?) but at least I knew I wasnt the only insane person in the world that was building one.

As for using EL for cabinet lighting... doesnt this stuff loose its glow after alot of use?
If so, you may wish to include a switch and only activate it when needed. Be a shame to waste all of that in a lit room.
Another choice for lit lines like that would be flourecent paint, and a UV light source.
Especially now that UV LEDs are available.

no need for bulky UV tubes.