Thanks for this post. I had an old Hanaho HotRod SE in the closet from years ago and I bought the upgrade kit based on your post. Last night I tried to install it and got frustrated by the way the labels wires were taped together where I couldn't reach all the connections. Reading your post this morning again, I untaped some of the wiring to separate the ground wires and everything easily was within reach for connection. The final result works great. I forgot how much I like the Hanaho HotRod SE.
The actual controller board screw holes don't align perfectly where the Hanaho ones were, but it's close enough that it works.
I have it attached USB to an Apple Mac Pro for MAME. I'll be setting up a HTPC soon, so I'll probably move it to that in the near future. Thanks again for your post.