Never trust wikipedia for blanket statements like that.
There are lots of EGA monitors out there that would also support CGA timings (multisync). There are also plenty that won't. If you try it, you probably won't hurt anything, but it won't sync up, so give it a whirl.
Most arcade games, especially classics, are CGA ("standard res", 15-15.5kHz). Some, mostly ones designed for dedicated cabinets, are EGA ("medium res", 25kHz). Some newer ones (early-mid 2000s) are VGA (640x480 progressive, 30-31kHz). Some really new stuff is designed to run off HDTVs and sometimes actually runs them at 720p or even 1080p, but those are not games you're likely to encounter in home usage any time soon (they're mostly dedicated racers and gun games).
Vertical refresh rates vary. Most monitors can be adjusted to handle anything from about 47-63Hz. There is a tradeoff between vertical refresh (faster means less flicker) and vertical line count (higher resolution means a sharper picture). Many arcade games also timed everything to the vertical refresh, so slowing that down meant that less processing had to occur for each "iteration" of the game, which was sometimes necessary if the hardware couldn't quite keep up.