Been trying them for the past hour, and can now say that the ini tweaks used for the PC version to disable chromatic aberration and film grain DO NOT work with the arcade version. Same goes for the resolution scaling line. Anything past 100 will be ignored, whereas if you set it to 200 or 400 in the PC it would actually render at twice or four times the selected resolution.
The other lines for shadows, ambient occlusion, motion blur do work as intended though.