I have a HDMI to VGA adaptor running a ebay bought 15" PC monitor with the arcade buttons wired into the GPIO. I have standard mains powered PC speakers, they are located behind the Sticker Panel, which is held on by magnets so you can easily adjust the volume.
It is all set-up on Pimame 0.7.10, been getting 0.8 setup on a spare RPi before moving SD card across, but have had a few issues.
Thanks to Shea for creating this.
P.S. Shea - I could not register with your site using Hotmail.com email. The confirmation email never came through. I kept resending and checking Junk/Spam folder also? I used my work email instead.
Cheers. Monitor is 15". I tried to make it as narrow as possible so you can walk through doorways easily. Sounds silly but it is quite heavy and I didnt want to catch the corners or my hands!!