There still seems to be a scene whereby PCBs are being created for JAMMA cabinets in the Japanese shmup fraternity - the likes of CAVE who are providing strong support for the 360 are also active in this area - but its a very limited audience.

Apart from that there still seem to be arcade releases that take advantage of control schemes you couldn't get in the home - big sit-in on-rails shooters and stuff like that. Sadly most arcades now seem to be filled with AWP (amusement with prizes in the UK) machines - that are basically elaborate variations on thing like penny falls machines with modern branding and fruit machines (slots to US people). The likes of the video pokers and crane games etc have a big presence too.

The International Arcade Museum (formerly KLOV) is the only major one that I'm aware of: http://www.arcade-museum.com/

They do make new arcade games today, but I think they mostly appear in the Japanese market, where there's still something of an arcade presence. There's not much new in the US usually outside of redemption machines and more of the deluxe arcade units, though the occasional new machine does sneak out here and there. You can usually find good selections at places like Chuck E. Cheese, Dave & Buster's, larger movie theaters, etc. It's not all gloom and doom, though outside of specialty places, it's not really like it used to be, particularly since the arcade has long since stopped being the place where you go for the most sophisticated games. Those are at home these days.