I have been dreaming about my own arcade machine for some time now. But for the moment it's simply not going to happen. I don't have the space, time or the money for a project that big, but I can do something else.
I have an old Pentium 4 PC that I plan to connect to my TV. It will be controlled with usb gamepads.
The machine will be used mostly for gaming, sort of like a console. My collection of old games and consoles will be moved out of the living room and outside the reach of children who like to use disks as a frisbee, pull the tape out of cassettes and use cartridges as building blocks

I know this is a bit lame compared to most of the projects on this site but it is the best i can get at the moment. Maybe someday this PC can be placed in a nice arcade housing.
In order to use this in the way I want it to work I need the following:
Front endHas to be easy to navigate with a gamepad only
Easy to setup (because I'm a bit stupid)
Completely hide windows xp during regular use (not necessary for setting up and adding games)
support a range of emulators and pc games.
PC to TV connectionIt looks like I will need some sort of adapter for this. I've seen a few and they are a bit pricey but otherwise this should be easy.
usb gamepadsI allready have one but I don't like it to much. I want at least 2 for multiplayer reasons. Most important about them are that the cord is long enough or that they are wireless
EmulatorsNeed to be controlled with the gamepads.
Work in full screen mode
Need to support the save game functions in games that can be saved or have a save game function of it's own (save state)
I want to emulate the following: Old arcade games (mame), NES, SNES, SEGA master system and Mega drive. Others might be added but nothing more modern then 16 bit consoles.
No difficult hardware hacking is required for all of this. the most import thing for me is to find a good front end and emulators and get all the software working correctly.
Ill keep anyone that is interested up to date. but mostly I'm allways on the lookout for good feedback and suggestions.