If anyone wants a quick way to play Arcade and Playstation games on their Raspberry Pi, I'm maintaining a distro that does just that: http://pimame.org
Answers to these questions should be easily accessible to any prospective user (i don't have my Pi available to test the distro), but then again, i suspect this project only started very recently and you're already planning on updating the website.
Right now includes AdvanceMAME, GNGeo (NeoGeo), and PCSX_ReARMed (Playstation).
The installer is available on github: http://github.com/ssilverm/pimame_installer
I'm planning on adding AdvanceMESS, SNES9x, and MAME4All this weekend.