Looks decent! I think there might be a bit too much space in the middle, maybe plop the fighterfly .ai graphic on there from localarcade.
You're doing almost exactly what I am with mine. I have a few more characters, custom brick pattern, and a different location for the start buttons.
Let me know what you think of the one I did as well. Posted it a few days ago here,
http://forum.arcadecontrols.com/index.php?topic=53574.0Do you have that joystick/button layout in a seperate layer on photoshop? I would like to have that graphic so I could plop it on mine and see how the spacing will work out. PM me if that is possible.