Some dingus on FB was bragging about getting one of those 2 player cocktail style cabs. When I noticed that the controls were on either side of the cab and that you were essentially looking at the screen sideways I asked how that worked (it wasn't turned on in the pictures). He proceeded to show me a picture of how both players share a split (and stretched) tate screen. Then he went on to explain to me that's how it is in Japanese arcades and this the ideal way to play as it's essentially just like linked candy cabs or a Versus City.
Yup, just like how they do it in Japan.