Most arcade games run at 15kHz horizontal scan rate, which is what "standard definition" TV's are designed for.
You have to use component (or SCART if you live outside the US). You won't do it with composite or s-video. The optimal setup is (IMHO):
GroovyMAME on Windows XP, 7, or Linux -> VGA out from CRT_Emudriver-compatible video card -> VGA to component transcoder -> 15kHz TV with component input
That will rival the quality of a real arcade monitor, the only differences being shadow mask/aperture grille type and dot pitch. Those will depend on the type of TV, and are matters of preference. You can also run a real arcade monitor with this setup. Just drop the transcoder and run the RGB from the video card directly to the monitor (an RGB amp will be needed with some monitors).
I'm not sure if the JROK will work as a transcoder. Not sure if it actually does straight transcoding, leaving the resolution alone, or if it encodes to NTSC-compliant 480i, which you don't want. Some confirmation about this would be nice, but you'd be a guinea pig, and you'd need to do some learning to understand everything that's going on. I can tell you that a VGA to SCART adapter and CVS-287 SCART to component transcoder would be a sure thing.
I would not recommend an ArcadeVGA. You won't have full control to achieve native resolution AND native refresh rate. You'll want to use GroovyMAME, and that works best with a CRT_Emudriver-compatible video card, which is cheaper anyways.
Check out the GroovyMAME section here, as well as the second link in my signature.