Yeah, a lot of us are running our Mame cabinets on standard res monitors. It's totally rad, but requires a bunch of effort to make it work. Andy's new card is supposed to take most of the effort out of running Mame with the arcade monitor.
If you ask me, running Mame on an actual arcade monitor is the coolest thing in the world. You're in luck, too, because you have the right monitor for your cab already.