Hhmm... you mean like a Beowulf Cluster or a COW?
That's a good question. Off the top of my head, I would imagine it would be a moot point until MAME can take advantage of the multiple core CPU's.
Or maybe the bigger issue would be the bandwidth issues between the machines. Even if one were to virtualize a more "powerful" system in a cluster the MAME games that would benefit the most might suffer the most due to communication between boxes.
Might be something worth a try. I wouldn't expect much gain from it at this point in the game.

I think it would be easier just to go with one powerful box instead of two half-assed boxes for MAME.
As an aside, the worlds record holder as of 11/08 is
Roadrunner. A hybrid beast using AMD and Sony CELL processors.
A video about Roadrunner.
No bookmark is complete without
http://www.top500.org/ 