Ok, finally dove into the cabinet and am, of course, hitting speed bumps. Turns out what I thought was an isolation transformer, wasn't. It's a 120v-12v stepping transformer. Mini thread
here. Also while capping the monitor I ran into another snag as
this thread shows. I guess it helps to actually know what monitor you've got, huh?
Decided to just throw a normal TV into it for now. Not quite as big as the WG, but I know it works. On to the woodwork!
Spent most of the day tearing the entire cabinet apart down to individual panels. Partly as a learning experience so I have a better idea of how these things are put together partly so I could repair some of the wood. Turns out it was a LOT sturdier than I was led to believe from most threads. The battens (not sure what they are actually called - the little strips of wood that the panels attach to) are attached with what looks like giant staples or small nails fed through a gun, exactly like I expected. What I DIDN'T expect was that all the crosswise wood were actually pegged together with wooden dowels and glued into place in addition to the battens and staples. That made things, um... more difficult... than expected.

So, Side panels are in good shape except the bottom 1" had some "creep" and a bit of water damage. I just sawed off about 1-1/2" from both panels, when I put everything back together I'm going to rebuild the base a bit taller and simply attach the sides a little higher to compensate. One side panel is fine other than the bottom, other panel has some chunks missing. More about that later. Base is completely plywood not particle or MDF, this is good since I intend to mount some wheels on the back to make it easier to move. Monitor shelf is ply as well, 3 layers of half inch for some reason.
Control panel top sanded down very nicely. Getting the bits of old overlay off made it look much nicer. Most of the box itself has issues, the particle had split so that is getting rebuilt. The existing holes are for a two player CP for Tekken, so not gonna work. Now I get to fill the holes, yay!
So, I've read on a lot of threads about using Bondo to fill holes and patch chunked out panels. So, off to Home Depot to get some Bondo. Oh my god that stuff is amazing! First time using it though, mixed a bit to much hardener and it set up way faster than I expected. Once I got the hang of it though, the stuff is amazing. Mixes easy, fills holes smoothly and sands so nice I felt dirty. Then started on the side panels after filling all the holes in the CP. Taped some aluminum foil across the gaps and chinks in the side panels then poured in the Bondo. Sanded everything down and it looks amazing!
The entire thing was covered in the weird thick contact paper. Attacked it with a heat-gun and got it all off. Only problem now is the adhesive residue left over. Sanding it is nasty so I'm gonna try something else. Going to test a small portion by just priming straight onto the residue and see what happens. We'll see.