You can touch it! It's playable right now. At the AOU arcade game expo in Japan, Konami wheeled out Metal Gear Arcade demo cabinets.

The networked online Metal Gear game features 3D, 5.1 sound, a gun controller and a head tracking controller. Check out those 3D glasses!

Gameplay footage here and here.

メタルギアシリーズ初のアーケード版「METAL GEAR ARCADE」プレイアブルムービー [GIGAZINE]
[AOU2010]『メタルギア アーケード』プレイレポート [Kotaku Japan]