Just an Idea...
These are basically 'bartop' machines, but un-movable.
You could however, make a bartop that fits and locks into
a wall recepticle.
This way, it can either be static.. or travel to other locations.
Other Thoughts...
Remember that arcade displays are tilted... unless its a
pedestal cab. If its not tiltled.. it will have to be eye level.
If two people of differnt heights play, one may not be able to see
the screen well, if the display isnt angled.
If the control panel is too shallow.. and your eyes are a mere 5"
away from the display.. I think it will be quite a bad experience heh.
Hmm, more thoughts...
The control panel could be wireless. Built into a movable cart
(with built in bar seats?!

When not in use, the CP might be able to
be hidden using a flip down top or rotating Cp.
Then the wall display can act as a
slideshow of pictures untill needed for arcade useage.
Even more thoughts...
The enite cp could be lowered like a drawbridge... and thus
able to extend the CP far enough from the wall. It would be
made using a frame that pivots.. sorta like those in-wall
ironing boards. Completely hidden when its up. (with exception
to a small outline seam in the wall)
In-wall speakers should make for some wicked sounds.
And or could mount the speakers into the CP itself.