Here's a quick presentation of my XBOX-based arcade.
The hardware is basically a chipped XBOX with a 130G HD with the popular arcade emulators in their XBOX counterparts: MameoX, KawaX, FbaX. With the latest versions of these emulators, even the larger ROMs are running fine, using virtual memory (the XBOX has only 64M shared CPU/GPU memory).
The interface for the HAPP sticks and buttons are two hacked Logic3 Arcade sticks. I installed a d-sub connector in the bases of the sticks which enables me to remove the Logic3 sticks and use them stand-alone fashion as well.
The control panel with joysticks can be replaced by a dedicated steering wheel control panel. The steering wheel was bought used for 150 sek (about $20) and is actually one of these:
http://www.happcontrols.com/driving/50807000e.htm. The interface to the XBOX is a chopped up plastic wheel thingy from Thrustmaster. The wheel was then modified to include the shifting paddles. The paddle itself was machined from aluminium and the microswitches were taken from the Thrustmaster. Two springs make the paddle return to center after shifting. The gas/brake pedals are from the Thrustmaster wheel without any modifications.
The 28" TV are simply put on top of the base without any side panels or covering glass/plexi.
The marquee is made from 2 mm aluminium, bent, shaped, and painted. It stays in place on the TV using double sided tape (heavy duty stuff, really difficult to remove).
The cabinet itself has a door below the subwoofer enabling access to the XBOX.
The machine works extremely well with the arcade simulators. It is much easier to configure the XBOX and the emulator to use the entire TV screen without black borders or excessive overscan.
The artwork is printed on normal photo paper using an on-line digital photo printing service. It was really cheap (700x500 mm costs about 100 sek ($13)). The print is laminated between the MDF and a 2 mm clear PVC. The sad part of the print was that they do differ from the digital original in green areas. Most obvious in the XBOX logo, where the print has a much duller green than I had hoped for.