Lots of people here have done what you're thinking of doing without much problem. Multiple keyboards aren't a problem (except mame can't tell which keyboard the keypress came from). OTOH, mame does see each trackball seperately, so what used to be mouse 1 (default mapped to player 1) might be moved to mouse 2 when you add another mouse device. This has been asked a few times here; the way around that is to remap your TB/spinner back to player 1 (tab, "input (general)", player 1, trackball or dial or lightgun or ad stick, "analog" port, enter, spin TB/spinner quickly, repeat for each one you want to remap).
Windows itself doesn't care (and can't even tell if there's more than one on most levels) if there's one or half a dozen keyboards or mice. (FWIW, I've hooked up 8 mouse devices at the same time before without problems.)