I have the i5-2500k and can confirm it smokes through pretty much anything MAME, even without overclocking. If it's emulated well enough to have the potential to run 100%, that proc can likely do it.
I haven't spent any time with the Model 3 emulator, but I imagine it'll handle that too. Works great on Model 2.
You might have an issue with that ArcadeVGA and running PCSX2 - it might not be powerful enough in terms of 3d capability. That chipset is based on the Radeon HD 2600, which benchmarks
lower than the integrated graphics built in to the i5. See here:
http://www.videocardbenchmark.net/gpu_list.php Using the i5's integrated graphics, I've noticed certain games (at least the Namco fighters like Tekken 4/5, Soul Calibur 2) will not run full speed... I don't have the PS2 Time Crisis games to test them for you, sorry!

Do you already have your monitor? Are you attached to the idea of using a CRT, let alone an arcade monitor? Most of those emulators support some form of HLSL or at least scanlines. A more powerful graphics solution is all my rig needs to run just about everything available at this point. It's a trade-off, but nowadays it's really not a bad one, in my opinion.