Agreeing with NickG (assuming that is a JAMMA harness as it appears to be), except you will still have a monitor issue.
Now, if you plan to use a PC monitor, then you can ignore the video-on on the JPac and things will be fine.
If you want to use an arcade monitor, then you will need to connect your monitor to the JAMMA harness a video card that can drive the arcade monitor (standard arcade monitor runs at 15Khz, standard PC monitor at 31Khz) and will plug your VGA cable into the video-in on the JPac.
More info can be found in the wiki and the Monitor forum.
NOTE: The JPac has spots to connect buttons 4-6 (which aren't part of the JAMMA specification, so not on the harness), so don't worry about that.
Cheers.