Last night a group of us took a look at the internals of the newer arcade cabinet, and tested to be sure it's still working; it is.
The interior just has a bit of dust, otherwise there are no major problems. The unit is very modular and it looks like cake to uninstall the existing monitor and replace it with a substitute: we're targeting a 20" Viewsonic monitor which is in the classroom. We'd like to know if anyone else had a predetermined use for this monitor. If so, please post here or IM me. We're allowing until Sept. 1 for anyone to respond. We've placed a note on the monitor as well, to reserve it for the project.
Though the installed CRT works, it likely is tuned for much lower resolution than we'd like to see in some games.
We have plans to make this into an information/member signup kiosk as well, and configure for network connections to the other arcade, so we can run multiplayer games.
The consensus is that the joystick controls seem very solid, but that we should add at least a couple more buttons per joystick for universal functionality.
The next step is to do some vacuuming of the interior, maybe some wipedown cleaning of surfaces, and take photos and do some documentation to record the existing connections.