No. The modification is to remove the last 4 gound wires from the jamma harness (can you simply tie them together and run it to one of the other grounds on the jamma harness and everything will be fine). This is incredibly easy on some jamma connectors if you can release the pins (and is then reversable).
Outside of that, you should understand MGCD has to be programmed (via dip switches) for every game if you want to play 1 coin per play. Its only compatible with a specific list of games (majority of them). Or you can put it into FREEPLAY timer mode (can set up to 255 minutes per quarter). Only issue with this mode is a countdown timer pops up every minute in the bottom of the screen with how much time is left. There is a way to bypass the MGCD video so you don't see the timer overlay poping up, but it requires a lot more work (using a hacked VGA box with jamma fingerboard). If you go this far, you are half way to just making your own if you hack some pads.