Alright, over the last 2 days progess has been slow but steady. I mostly have just been waiting for paint to dry. I painted the front of the cabinet and have been spraying the control board with a couple layers of polyurethane.
After sanding down the front of the cabinet it looked really rough. You could see 20 years of wear and tear taking its toll.

I gotta say though. Once I started painting it really started to transform into something pretty nice looking. It took 3 coats of paint but I think it turned out pretty well. I also plan on giving the coinbox a little black paint but I'm not in too much of hurry to do that.

As I was doing the 3 coats of paint on the cabinet I put the overlay using the spray adhesive onto the new control board and started spraying a few layers of polyurethane just to give it a nice pretty shine and it will also protect it a good bit. After everything has dried I did a test fit on the cabinet and lucky for me everything fit like a glove. I also added that Multigame decal to the front. I think it looks good there.

So, now on to installing my new arcade parts along with the wiring. This wiring can be very confusing. There are wires for the joystick (up, down, left, right), 4 buttons, Player1, Player2, Coinbox, Power, Speaker & video. Ughhhhh. Just to give you a picture check it out. It took me over an hour just to identify all the wires. :(

I went ahead and put the buttons and joystick into the control board as well. I think it turned out pretty well. :)

And, all this wiring and the game circuit board (not shown in pics yet) needs to go somewhere in the back of this cabinet. I'll be figuring this one out as we go... I'll keep you posted.