If you want to use the standard res (CGA) arcade monitor, I highly recommend buying the ArcadeVGA. Yes, it is compatible with Windows, and you can run at 640x288 (non-interlaced) or 640x480 (interlaced) and 800x600 (interlaced). The interlacing makes small text hard to read, but for games it will not be as much as of a problem.
Additionally, I have heard that NES, SNES, Genesis, and many other console emus run fine at CGA res. In fact, a standard (non-HDTV) TV is CGA-Res, and it runs interlaced!