Was there ever an arcade boxing game that featured two big levers or sticks that simulated the punching motions?
2D, pixel art, predating 3D graphics. POV was first person, or third behind your character, as found in Punch Out
This would have been mid to late 80's. I vaguely recall seeing it at Great America in Gurnee IL, outside of Chicago.
Was the cabinet or at least the frame around the monitor red plastic or metal?
My googling isn't turning anything up.
(Was there a special edition or deluxe version of Punch Out this could be, perhaps?)