I was this close to pulling the trigger on the equipment on this, until I ran it on my 46" TV just as a test. My enthusiasm instantly waned:
1) Graphics aren't the best. The engine was written circa 2000 / DirectX 6.0/7.0. There's no anti-aliasing on anything but the ball. Flippers have jaggies, etc.. You can keep buying fancier graphics cards but isn't going to matter if the software doesn't take advantage of features.
2) Because people can't make money off this (legality issues) the quality of the playfields are highly variable depending on volunteers dedication.. Some look really good (given #1's limitations) but some look really crappy.
If i'm going to build a whole contraption around this concept, I want it to look good as well. And looking at forum posts, nobody really has a solution.. apparently the engine itself doesn't get a lot of development love to even get that going; let alone things like 3-D to take it to the next level.