Your arcadevga only outputs a 1 volt signal. Some arcade monitors are just fine with this 1 volt signal but many monitors expect a 4 volt signal like they would get if connected to a proper arcad game board.
I suspect that your monitor really wants a 4 volt signal, it will still display something with the 1 volt comming from the arcade VGA but by the sounds of things it is a little dim.
Your first step in fixing this problem is to convert your 1 volt arcade VGA signal into a 4 volt one.
to do this you will need either an ultimarc video amplifier which is designed for just this purpose
http://www.ultimarc.com/vidamp.htmlOr alternitively a jpac interface which has a lot of other functionality and a video amp built in.
http://www.ultimarc.com/jpac.html(don'y get the jpac lite, it's crap)
With a bit of luck that will fix your brightness and white weirdness problems. If not it's time for a new monitor.