Here's the process, well for me anyway.
- Get a cab.
- If it's playable, play it for a week before you tear it down. (Skip to step 4 if you're building one from scratch).
- Tear it apart and get it down to an empty wooden shell
- Woodworking (fit and reinforce monitor framework and build your blank control panel at this point, but don't install any controls!)
- Painting
- Install Monitor
- Wiring (coindoor, power, speakers, and lighting)
- Control Panel artwork, plexi, then wiring and control installation.(use an iPac, there is no real substitute)
- Install Marquee, sideart, bezel
- Then the final last step, stick the computer in there.
You should be nearly done before you even put the computer in, let alone install an OS and emulators. But if you do the control panel first, then plug a working mame computer into the monitor to "test" it, then you're done for. Efficiency drops 75% when you don't have that anticipatory "first bootup on finished cab" motivating you through the project. However, I've seen haste taint many a project too, so maybe it's a wash

As for playing, I spend about 50% of my time playing on it and the other 50% configuring Mala/Mame. Since I upgraded to a new motherboard and upgraded Mame from .83 to .120, I've noticed an extra .05 second lag in Street Fighter series of games that is bugging the hell out of me. I'm sure it's D3D causing it too. Thinking of going back to ddraw and mame .83. At least mame .83 let me set -refresh 70 which is the only way I can run those low 384x224 resolutions and stay within my monitor's range.
But I digress, I don't play nearly as much as I thought I would with a cab, but if I just wanted to play, I would've been happy on the computer and keyboard. Just looking at the cab on attract mode and messing around with the insides is where I get my jollies off most of the time.