I am doing the same thing with a Robotron cabinet that was converted to a Magic Sword.
The original side art had been sanded off, and replaced with crappy black formica, which was falling off when I got the cab. So sad...

...you can still see some of the original grey paint...
Anyway, I am going to paint it, put new marquee and control panel, and install side art so it will look like a Robotron again

I found a 19" PC monitor that will fit in the cab, and I am going to run Robotron on MAME. I thought about getting original parts, but that could run $500 or more, then I would have to figure out the wiring, worry about if the PCB was working or not, worry about any of the old parts crapping out on me...etc...
I am already doing that with a Centipede which I have invested well over $500 in original parts, and it is still not fully restored...

Yes... I know... it is very rewarding to fully restore an original cabinet... That is why I decided to do it with the Centipede...but I am not ready to do that with the Robotron cabinet, when one of my old junker PCs will do the trick for free...
I would say do the MAME thing with the Defender... and if you find you really want to restore it later with original parts, go ahead and start acquiring them as your budget permits.
Good luck...
