CPWizard, absolutely.
And sorry for the shameless plug, but I think my Ambience app (see my sig) is pretty indispensable. I don't think many have started using it, and I don't know if that's because it's hard for people to visualize the end result or because it takes some effort to do it right. The idea if implemented fully, though, is that you add a second sound card to your system to play the Arcade Ambience sounds that Ahofle made, piped to speakers placed ideally away from your cabinet (think surround sound), so that when you're playing games you get the feeling of being in a full arcade. I have to say that this is one of the highlights of my cab and when friends come over they always comment on it.