Coming from a guy with 25 cabs in his house, and another 10 disassembled in the garage and another ~15 gone through the garage in the last 12 years, you will want to keep the ones you really like. MAME, while great for 'preserving' the bits that play the game, actually is not exactly like the real game in many cases. Poor sound, off colors, glitches, and most of all -- not quite authentic controls; especially for anything other than straight digital joysticks.
Trackball, spinner, analog joystick like games just don't feel the same in Mame compared to a real board to me. It's like playing Virual pinball vs. Real pinball, just not to the same degree.
Coupled with the fact that configuring MAME to pick the right build number (they're constantly breaking old stuff just to add new stuff/re-working the code architecture to be 'pure') and the right rom versions, and then configuring input, dealing with 4 way joysticks not working for 8 way fighting games, and 8 way sticks not working for 4 way maze games well, it's just a lot of work.
Honestly, if you do want something that plays a large number of "true" classics (not everything like Mame including bootlegs/etc..) without all the configuration, hardware, etc.. issues, consider the PhoenixArcade "ArcadeSD" board. It's pricey--$330 shipped but is plug and play (after downloading a single zip of all the roms from a separate site); and best of all works great with a single 49 way digital joystick and automaps it into 2/4/4 diagonal/8 and even 49 way modes (for Sinistar). It switches automatically, no levers to move, no configuration per game, etc.. I own two of them, one for a vertical monitor, and one for a horizontal monitor. Plus they do updates every 3 or so months to add 3 or so new games and fix any bugs. It's pricey, but compared to pins, it's not and well worth the cost. For under $600 in a self-build starting with a vertical monitor Jamma wired cab, you can build one quickly.