I have a modified Arcade 1up machine and I and my kids absolutely love it. I bought an Asteroids one and paid someone off of facebook to modify it into a MAME machine with a SF2 button layout running off of pi with 18000 games on it. It's fantastic. I have a favorites list with a bunch of games my 7 year old and younger kids can play it. It is a neat piece of furniture and I really like having a dedicated cab, even if it is small. I would recommend getting a riser to go along with your machine were I you.
Go buy one, they are not that expensive (compared to pinball) and you can unload it on Craigslist for 1/2 price if you hate it in time, or can pay someone for a MAME machine conversion or do it yourself if you are into that.
If you go the MAME route, get the one with the art package you like best.
Get the MK2, play the crap out of it until you are bored of it in a few months, then have fun converting it into a MAME multicade if that's your thing, then have fun playing the games.