I'm thinking it would just be easier to hack the VGA cable, and re-wire the controls through a standard GP-Wiz or I-PAC. That way, if he wanted to, we could pull the MAME out of the box, re-use the JAMMA harness and wire the Monitor back if he wanted to sell it some day.
That is exactly the opposite of what I would do to achieve the goal of being able to yank the MAME box and restore to JAMMA.
For the sake of simplicity, there are 3 "things" that can run through the JAMMA harness when you use a JPac -- Controls, Video and Audio.
The only difference (assuming a 2-player CP) between running through a JPac or an IPac is that with a JPac you only need to wire the "extra" buttons, because everything else is already connected via the harness. To use an IPac, you will need to disconnect everything from the harness and then reconnect to the IPac. It's not a big deal, but it is bloody convenient using the JPac.
As far as video goes, regardless of whether you use the JPac or a hacked VGA cable, you still need to get your video card putting out at 15Khz. You can do that using soft15 or using an ArcadeVGA. The JPac is nice because it won't send a bad sync rate.
The J-PAC will not pass the sync signal through unless it detects the signal is at the correct frequency for the monitor. Some older types of 15Khz monitor could be damaged if fed with a high sync rate. The J-PAC prevents this happening. If the sync rate is not in range, the monitor is still powered up and still has video passed to it but no damage can occur as the horizontal frequency cannot be driven too fast without any sync present.
And the JPac is marginally easier to hook up than hacking a VGA cable.
Which brings us to what I consider the only weakness to the JPac -- audio. JAMMA standard is amplified mono. Your PC (typically) puts out unamplified stereo. Andy's advice has been to use amplified speakers instead of the speaker installed in the cab. It's a reasonable thing to do, especially if you want to use the cab as a jukebox. What I do is run the sound card output to an amplifier circuit (something
like these), which I power from the +12V from the power supply and then into the speaker inputs on the JPac.
FWIW, I almost always use the JPac as my main interface in MAME projects now. It's quick and allows me to repurpose the cabinet easily should I decide to use it for something else other than MAME.
By way of an example, I had an old MAME rig that I set up a few years ago for a vertical MAME cabinet. I later decided that I wanted to just drop in a 48-in-1 board instead. It took me less than a minute to pull out the old rig, connect the arcade power supply and install the 48-in-1. This past weekend, I ended up putting that same MAME rig into a JAMMA cabinet for a trackball/spinner-based horizontal MAME cab (note: the trackball and spinners don't run through the JPac -- I used it for ease of connectivity). It took me less than 5 minutes to pull out the Golden Tee board and power supply and install the MAME rig, including power and connecting the trackball (I still have to decide on what spinners I want to use).

Going the JPac route works really well for me and gives you the ability to instantly convert back to JAMMA.