Jereel Hunter said:
This sums up most of my thoughts well. The possibilities I would add are: Have an excellent internet connection, and hold tournaments vs other locations. Have players compete to be in these tournaments, and then send your best 8 vs another arcade's best 8. Games like Halo 3, played on larger screens than people have at home, which a more social atmosphere would be popular.
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Having online tournaments is definitely one of the things I think would help to revive the arcades. You would definitely have to figure out a way to get a large number of different arcades to put it together to have any cultural or financial impact of any significance.