It's decent. I bought one a few years ago used for $1,000 (I think they were about $2k new at Costco). The menu is good (much, much better than the 60-1 menu). A game with a special controller, like Tempest, is going to be a little strange on there with a joystick. It has a trackball though so Centipede and Missile Command work reasonably well. If you like a bunch of the games on there but don't want to get the dedicated cabs or don't have room, then it's a good alternative. There is a large enough variety that most people can find something they like on there (my friends play the fighting games and some others that I have no interest in).
Yes, they are licensed games. Here is the list:
1.
1942™ (1984, Capcom)
2.
1943™(1987, Capcom)
3.
10-Yard Fight™ (1983, Irem)
4.
Alpine Ski ™ (1982, Taito)
5.
Anteater™ (1982, Stern)
6.
Arkanoid® (1986, Taito)
7.
Arkanoid 2® (1988, Taito)
8.
Asteroids® (1979, Atari)
9.
Asteroids Deluxe® (1980, Atari)
10.
Armored Car™ (1981, Stern)
11.
Battlezone® (1980, Atari)
12.
Berzerk™(1980, Stern)
13.
Black Tiger™ (1987, Capcom )
14.
Black Widow™ (1982, Atari)
15.
Bubble Bobble® (1986, Taito)
16.
Burger Time® (1982, G-Mode)
17.
Burnin' Rubber® (1982, G-Mode)
18.
Calipso™ (1982, Stern)
19.
Captain Commando™ (1991, Capcom)
20.
Centipede® (1980, Atari)
21.
Chack 'n Pop ™ (1983, Taito)
22.
Cheyenne™ (1984, Exidy/ Kauffman)
23.
Clay Pigeon™ (1986, Exidy / Kauffman)
24.
Cobra Command™ (1984, G-Mode)
25.
Combat™ (1985, Exidy/Kauffman)
26.
Commando™ (1985, Capcom)
27.
Crack Shot™ (1987, Exidy/ Kauffman)
28.
Crime City™ (1989, Taito)
29.
Crossbow™ (1983, Exidy/ Kauffman)
30.
Crystal Castles® (1983, Atari)
31.
Defender® (1980, Midway)
32.
Elevator Action® (1983, Taito)
33.
Fax™ (1983, Exidy/ Kauffman)
34.
Final Blow™ (1988, Taito)
35.
Final Fight® (1989, Capcom)
36.
Frenzy™(1982, Stern)
37.
Golden Tee Golf II® (1992, Incredible Technologies)
38.
Ghosts' N Goblins®(1985, Capcom)
39.
Ghouls' N Ghosts™ (1988, Capcom)
40.
Gravitar® (1982, Atari)
41.
Great Swordsman™ (1984, Taito)
42.
Hard Hat™ (1982, Exidy/ Kauffman)
43.
Hit 'N Miss™ (1982, Exidy/ Kauffman)
44.
Joust® (1982, Midway)
45.
Jungle Hunt ™ (1982, Taito)
46.
Karate Champ® (1984, G-Mode)
47.
Kung-Fu Master™ (1984, Irem)
48.
Liberator™ (1982, Atari)
49.
Liquid Kids™ (1990, Taito)
50.
Lost Tomb™ (1983, Stern)
51.
Lock 'N Chase® (1981, G-Mode)
52.
Lunar Lander® (1979, Atari )
53.
Lunar Rescue™ (1979, Taito)
54.
Magic Sword™ (1990, Capcom)
55.
Mega Man® (1995, Capcom)
56.
Mega Twins™ (1990, Capcom)
57.
Millipede ® (1982, Atari)
58.
Minefield™ (1983, Stern)
59.
Missile Command® (1980, Atari)
60.
Moon Patrol™ (1982, Irem)
61.
Moon War™ (1981, Stern)
62.
Mouse Trap™ (1981, Exidy/ Kauffman)
63.
Nastar™ (1988, Taito)
64.
New Zealand Story™ (1988, Taito)
65.
Pepper II™ (1982, Exidy/ Kauffman)
66.
Plump Pop™ (1987, Taito)
67.
Puzzle Bobble® (1994, Taito)
68.
Qix® (1981, Taito)
69.
Rainbow Islands ™ (1987, Taito)
70.
Rainbow Islands Extra™ (1988, Taito)
71.
Rastan® (1987, Taito)
72.
Red Baron™ (1980, Atari)
73.
Rescue™ (1982, Stern)
74.
Return Of The Invaders™ (1985, Taito)
75.
Robotron® (1982, Midway)
76.
Section Z™(1985, Capcom)
77.
Shootout™ (1985, G-Mode)
78.
Showdown™ (1988, Exidy/ Kauffman)
79.
Side Trak™ (1979, Exidy/ Kauffman)
80.
Son Son™ (1984, Capcom)
81.
Space Duel™ (1982, Atari)
82.
Space Invaders® (1978, Taito)
83.
Space Invaders DX® (1993, Taito)
84.
Spectar™ (1980, Exidy/ Kauffman)
85.
Speed Coin™ (1984, Stern)
86.
Street Fighter II®(1991, Capcom)
87.
Street Fighter II CE® (1992, Capcom)
88.
Super Breakout® (1978,Atari)
89.
Super Burger Time™ (1990, G-Mode)
90.
Super Qix® (1987, Taito)
91.
Targ™ (1980, Exidy/ Kauffman)
92.
Tazz Mania™ (1982, Stern)
93.
Tempest ™ (1980, Atari)
94.
Tumble Pop® (1991, G-Mode)
95.
Venture™ (1981, Exidy/ Kauffman)
96.
Warlords® (1980, Atari)
97.
Waterski™ (1983, Taito)
98.
Who Dunit™ (1988, Exidy/ Kauffman)
99.
World Class Bowling™( 1997, Incredible Technologies)
100.
Zoo Keeper™ (1982, Taito)