So i'm interested in buying a Namco System 246...

Right I saw an amazing deal for a Namco System 246 on a UK arcade specialist website who is selling a 246 for £110, but I have no clue about how I would set it up :( I'v been reading the SCII arcade manual and I saw that there were two ways of setting it up.

One way of setting them up is either JVS or Jamma, I have no clue what they are LOL
I was wondering would I need the Jamma board because the 246 motherboard has PS2 slots and because I know nothing about this Jamma thing would it not be needed because it only controls the controller inputs?

If that were the case then could I get away with just plugging in a PS2 controller in the front and just plug in the VGA and Audio cables to my HDTV?

I read a little research and found that SCII, SCIII:AE and Tekken 4 all support PS2 controllers which is awesome! but I read that the upgraded version of 246 (Namco System 256) does not even have any PS2 ports at all! >:(

In addition how is it powered because I saw people running it with some sport of PC PSU power supply and some without it >_>

I'v never had an arcade system before so this probably sounds completely ridiculous to people on here who have multiple arcade systems in their homes :)