SirPoonga: I will look into the solenoid route. My air hockey table uses solenoids to release the puck, funny I never thought of using one here. Anyway, if the plunger is long enough, this might work.
Also, this is a sitdown driving Mame cabinet which will complement my already existing/finshed 4-player Mame cabinet (see pic below). I wanted something to play driving games in Mame as well as the Xbox driving games (ie: one of the six sides will have an XBox steering wheel attached). Also, the seat is an adjustable arcade seat from an Indy 500 cab (I think) and the 27" TV will be placed on the square of wood which you see on top.
I do not have a site with progress. Barely find time to keep working on this cabinet. My wife has been out of the garage for 4 months now. Anyway, I am currently makiung the marquee and speaker housing. I will post pics when I am done though.....probably be another 2 months
Frostillicus: OK, this idea sounds cool, but I am not sure whether there would be enough room to mount a magnet on the underside of the rotating control panel. I would also need to get six of them for mounting one each to the bottom of each of the six sides. Where would you even get magnets which would resist the force of someone playing a game and trying to make sure it does not move.
hyiu: Yes the rotating control panel is in the middle. There is probably about a 1" clearance from the bottom and about a 2" clearance on the top. The top clearance is more since I had to allow room for some of the assemblies which stick out above the control panel lid (ie: see how the motorcycle assembly sticks out over the top in the picture above.......also the Spy Hunter steering assembly sticks out some as well but this is not seen in the picture since it is on the other side).