I was browsing my local used record/game store and they had a ps1 arcade stick for 8 bucks, but I had enough store points to get it half off, so I figured that for $4 I couldnt go wrong even if it was crap. It turns out it wasnt so bad and it felt good on Capcom vs. SNK 2 on ps2. So i decided to give it a new look and plan on getting new buttons and a stick. I also ordered an adapter to make it work with my PS3.
The wiring surprised me, as it was all point to point, and generally messy inside. I plan on making it a bit tidier when i put it back together.
How it began: (it was an Interact PS arcade)

I didnt like the ridges on the sides, so I filled them in, and after a ton of sanding and my first coat I have this:

I am going to sand it tomorrow and give it one more coat, then possibly do a wet sand and buff depending on how it lays down tomorrow.
If this one comes out good, these sell on ebay for around $10. I will keep this updated.