I've got Carnevil and Area 51 / Maximum Force as full arcade machines and I absolutely love them. I find that I don't tend to play as much with the consoles, it just doesn't feel quite as "good" as the machines do. I do heartily recommend the House of the Dead games for the Wii though, with the last one (I forget it's name) being both amazingly awesome and incredibly vulgar, so watch out for that.

Light gun games are probably my favorite type of arcade game. While the components may be expensive, nothing feels quite as good as playing them on the real hardware.... at least to me!