Build your own arcade game
So you have an old Dual 500Mhz G4 sitting around, and a copy of MacMAME? Why not spend a ridiculous amount of time (about a year or so) and effort to create your very own arcade game, powered by OS X, natch.
That's just what creativebastard did, and he
chronicles the whole thing on his blog. I must say that it is a very cool idea, and a great use of some old Mac hardware. If I was handier with a saw and electronics, and had more space in my small apartment I would be tempted to build my own.
I have a strong desire to play DigDug for some reason.