I think without question the Front End is the cheapest solution. While I happen to use Mamewah I know that its not the worlds easiest to setup and Mala is a great front end also. Once you get that all going, you could certainly consider a new 25 or 27 inch TV with Svideo, it will sharpen things up alittle. My kids ( Boy 4 and Girl 9 ) can navigate the front end without issue and yours will too, my wife, well... Once you get financially ready to spend some more money, you could consider a Wells Gardner D9200 or one of the other Arcade Monitors with a standard 15pin connections, they are not cheap but they sure are nice.
Zeosstud