If you can somehow get your hands on a router, route out about 1/4" to 1/2" from that wood underneath the joysticks, it'll allow the joystick shafts to come up higher, and will feel 100 times better when you play. Right now they look pretty low, and if you plan to go with lexan/plexiglass on there, its gonna be a pain when the joysticks are so low, you can barely pull off a fireball.
I'm going off to college next year as well, big tip of advice, if you want any girls, DONT bring a cabinet ^_^ I wouldn't trust my mame machine in a frat house though, think of what drunk people do when they're excited, move around a lot, don't have a puke bucket.... one gross cabinet. I'm gonna be in the dorms next year, and I was thinking about building a 2 player control panel, but I don't even know if I'll do that. Dorm rooms aren't THAT big ya know, definitely not big enough to fit a mame cabinet into. If you had a cluster, you could maybe squeeze on into the lobby, but then you gotta worry bout someone jacking it. Believe me, college kids can do that kinda stuff.
-Luke