We just finished converting an old empty Virtual Fighter cabinet into a MAME cabinet. We did this for trade, so we're not keeping the cabinet, but I thought it turned out really nice and figured I'd post a few pics of the finished project.
The person we did this for wanted it to be a 4 player control panel, and I usually don't like doing those (they always look so cluttered), but I thought this one turned out pretty good (it helps that the Virtual Fighter cabinet is already so wide to start with, the 4 player panel looks right at home on it).
We also printed up the artwork for the control panel overlay and marquee (thanks to the arcade art library). He wanted a collage of arcade characters, and again, I usually don't like that look because I think it's odd when you mix the art styles of all the different arcade artists, it just never looks right to me, but we were able to modify the Arcade Fever image (mostly re-arrange characters and add a few more to fill in spaces) and I think it came out well. I wasn't sure how it was going to match the grey laminate of the virtual fighter cabinet, but I think it looks really nice (and I really like the "burst" in the middle where we put the trackball).
I know that the buttons and joysticks obscure some of the art, but the artwork was decided after the panel was cut, so if we were going to mess around with measuring and placing charcters according to existing holes, it would have cost too much money in time and he would have had to give up other things on the cabinet. I don't think it's too bad, and definately better than just painted grey (that was the other alternative).
I also don't usually like the chrome t-molding, but I think it suits this cabinet (it looks pretty sharp with the matching chrome t-molding and such). It was a fun project, and I'm excited for the new owner to come and take a look and pick it up.
We cut the control panel and plastic on our CNC machine, and it was pretty dang fun (some tricky programming for a few parts, like a groove we cut on the bottom of the base to have it lock onto the cabinet, but it's nice and sturdy now). It's also nice to have things like the flush mount trackball pocket all programmed in (I can move that part of the programming into other projects and will definately only flush mount from now on, it looks so nice).