Okay, haven't updated this in a while, because I haven't had a ton of time to work on this cab lately.
Updates:
Got the "new" PC. Decased it, did a little fab work to get the heat sink to mount properly on the motherboard without the case mount, mounted the whole thing on the plywood same as the other PC was. Put current MAME on it, put MameWah and Mala to play with, put one rom (ms pac) to test with. The software all is working.
I had an issue with the ipac and this new motherboard. This mobo has no PS2 port, USB only. So I got a cheap PS2/USB converter off Amazon and plugged in the Ipac. No luck. So I plug a keyboard into the converter to test it. No luck. I plug in a mouse. No luck. I plug in the keyboard straight to an older PC. No luck. Mouse, no luck. The converter must have fried the known good mouse and keyboard. Not happy. I am wondering if the converter was bad to begin with or if the Ipac pulled too much current and fried it causing it to then fry the others. No way of knowing. Also no way of knowing right now if the converter was really bad and fried the Ipac too.
So I got a better PS2/USB converter at Staples. This one has separate inputs for keyboard and mouse in a Y to USB. Just got that plugged into the PC with the Ipac. So far, no luck. Noticed the PS2/USB jumper on the Ipac, changed that, no luck.
Is there a way to confirm at this point that the Ipac still works?
EDITUPDATE: Just tried to use WinIpac to reprogram one of the keys in ALT mode. No luck, can't connect. It does say in the program that it is only an option in USB mode for Ipacs shipped after August 2002. No idea how old this one really is...