I like to engineer as I go.
Gets stuff done rather than "analysis paralysis" which is where I was stuck.
If you're going for your first cab, just do it.
The second is where you start to hone your skills.
Just My Opinion.
I totally agree with Dervacumen. I did my first cabinet (a conversion out of an old nintendo) in 5 days. It was purely a strip down, some wood putty, paint, CP and I printed everything off a color jet printer.
I learned a ton, and while doing my second cabinet, I redid my first one to make it more asthetically pleasing. They both turned out good. In the last 8 months I've done a total of 5 cabinets and I'm done.
Dive right in. Play a game or two, but finish the project. Playing your arcade is reward for working on it. The games will be that much sweeter without the guilt of playing on an unfinished cabinet.