I've quickly looked in the arcade settings, and couldn't find the reset scores button. I've seen it once, so I know its there, but just couldn't find it.
I've changed a setting though, just for the purpose of testing a theory of yours.
You're now allowed to have 2 scores for each game. You'll have your personal best, and the second score will be eh... your second best.
To prove that you really are that good in a game. I'll look into resetting the score if this doesn't revive the arcade or it died after it was revived.