your neighbors will hate you for sure! Machines are loud! Especially with the glass off and the back open which it will be when you are working on it. I think that foam is a good idea. You could probably add something under the cabinet to absorb some sound as well. Great idea to disconnect the chimes. I have thrown a towel on them to muffle them before which helped a little.

You will have to access the back and wall around all side of the machine when trying to get it to work so keep that in mind.

Good luck with the project! I had a Jumping Jack for a while. That is a fun game!

Your main issue will be when you get a second pinball machine!