You don't have to build a huge rig with a dedicated control panel.  A very small one with the right amount of small buttons will do the same.  JAMMA sticks are just 4 microswitches, the buttons are just microswitches.  You can put a decent JAMMA test rig in a small space.  I've seen plenty of them in only a couple of square feet.  A power supply, an RGB capable 15khz monitor (old Commodore monitors are perfect, small, use house AC, and also accept RCA for regular TV), and a test panel less than a foot square.