K1ngFiasco summed it up pretty well, although I used actual pinball mechs for haptic feedback and the "feel" is awesome.
Virtual is a fun project if you're building it out of parts and are ok with the variable quality of games (most are made by volunteers). Premade cabs don't seem like a good value to me. Once you start talking a budget of a few thousand dollars I can't imagine doing anything but buying a real pin.