Vince im with you, we need some work before we can even see if we have the horsepower to back it up.
I think our best bet would be a port of U64emu which is a stand alone KI1 and 2 arcade emulator. I have used the windows version and the Xbox1 version and it is very playable. There is a Linux version that is using SDL and GTK here. http://www.emutalk.net/showthread.php?t=23441
The menu system would probably have to be rewritten and there is some x86 assembler that will have to be converted or eliminated but im hopeful.
I was hoping to take a crack at it myself but that would be some time and i know there are tons of talent around these boards.
All of us with devboards are very busy .. if someone can get this to a compilable state for ARM (ie: convert ASM to C) then let me know I can build and run it. (ie: I didn't look at it.. perhaps it already has #ifdef's in it?)
There wasw a quick MAME port a few weeks back, I wonder if it included that?