>>890411>mame boardsOP whatever you decide to do, please use a CRT screen (either from a tv or monitor) instead of a flat LCD. This provides the best arcade 'feel' regardless of whether you use actual arcade PCB's or simply emulate them.
Personally, I'd go with trying to make a JAMMA harness (arcade machine standard connector for all arcade games after mid 80's) and plug it into a real deal arcade board. It's a really easy first project to get your feet wet with basic electronic practices. There's loads of comprehensive tutorials with pictures on the internets. Basically you need to look up the pinout online and connect wires to GND, +5v, 12v (and for some games, -5v) These can all be found standard on most PC power supplies.
After the power is connected, you have to simply connect the sound, controls, coin mech (can just be a button which you can mash to get credits) and video signal (RGB out, but you can buy dirt cheap video converters to connect it to anything)
Your alternative is finding a free computer and putting MAME in the startup, using a USB encoder for the controls and using a video signal converter to connect to the TV. This involves a small amount of hassle because you have to wire the controls to the USB encoder in a similar way as you would to the JAMMA connector, but it's still very basic.
The best video quality from a CRT screen comes from those with Component/RGB or SCART connectors.
The speakers that you find in the TV you take apart can be taken out and mounted to the cabinet. You can wire them to accept sound from the computer, just wire Speaker+, Speaker- and GND to either end.
Arcade controls can be bought online for cheap. Buttons can be bought for about $1 each, but I suggest you don't get the cheapest joystick available, get something from HAPP or Sanwa so it doesn't fuck up.
Cabling and El Cheapo soldering kit can be bought from the $1 store.
Gouges and cracks in the wood can be fixed with Bondo which is sanded back.
Good luck!