thanks guys -- i'll probably just end up getting 2 x-arcades, then.. i didn't know that the hotrods weren't programmable. thanks for the info.
Well, now that I cleared some things up, let me confuse you more

Two X-Arcades - $300 (maybe less off E-bay) $360 if you get them both with the Apple kit (which you need since they can't both be PS/2). $330 if you get one PS/2 and one USB. Somewhat awkward encoder, but ability to use with console games.
Two Hotrods and a USB I-PAC - $241 (HotRod is on sale for $99) now. Only one HotRod will be programmable, but this is the least expensive working solution.
Two Hotrods and two USB I-PAC's - $284 Gives you programmability and USB hot-swappability on both HotRods and a better interface.
X-Arcade USB and Hotrod PS/2 - $279 Gives you the ability to play console games and MAME, if you can deal with the non-programmable interface and the different looking panels.
X-Arcade PC and HotRod USB - $291 Ability to play console games and program your HotRod, if you can deal with the different looking panels.
X-Arcade USB and HotRod USB - $321 Same as above, but both units are hot swappable.
Ok, my brain hurts, I'll stop now!!!