Some good old arcade style games? Like Golden Axe, King of Dragons, Knights of the Round, Warriors of Fate and stuff like that? I suddenly missed the good old days and am itching to relive in the past, so any suggestion you can afford will be much appreciated. My knowledge is limited and i haven't played a big number of games in the past... Thanks in advance.

If you don't mind using an emulator, then you can't go wrong with TMNT IV : Turtles in Time. You can also check out the sequels:
Golden Axe 2
Golden Axe 3

Here on gog, Prehistorik has a delightful oldschool arcade feel.

edit: Perhaps Castlevania: Bloodlines. Not sure how arcade-like it is, but it is the only castlevania game I've ever finished - madly difficult though :P

Btw, if you can get MAME running, then you can check out some genuine arcade games as well

The only one I played is Teenage Mutant Ninja Turtles. This one specifically because there are dozens of games with this title, not all of them arcade style:
http://www.mobygames.com/game/dos/teenage-mutant-ninja-turtles__/screenshots

And I do recommend it. Not sure if you can find it anywhere though.

Space Invaders, and Pacman

Meh! I say. It's certainly fun for a Simpson's fan, but honestly it doesn't hold up. The entire game is a single button spam fest, ultimately the same problem that plagues Xman. I too was sad to find my childhood memories were quite rose tinted.

The pair of Dungeons & Dragons arcade beat em ups (Tower of Doom and Shadows over Mystara) however are quite a blast. The second one even supports six players just like an Xman DX cab. If you like Knights of the Round these are the infinitely superior games that were aped.

I really enjoyed the arcade version of Joe & Mac. It looks great (lightyears ahead of the console ports) and fits somewhere in between a platformer and beat-em-up. It's especially good with 2 players!

If shoot-em-ups are your thing, you could take a look at Crimzon Clover. Be aware that that game is not exactly easy.

Edit: The game isn't that old, however.

Streets of Rage (series) => Streets of Rage 2 is highly recommended.

If you like Beat 'em up games, I can recommend more titles (both arcade and console).

 ▪  <span class="bold">Realms of Chaos</span>    ( On GOG  ⁞  Gameplay )
 ▪  <span class="bold">Streets of Rage Remake</span>    ( Free download  ⁞  Gameplay )

PacMania. (I am familiar only with the coin op and Amiga versions)

Also Marble Madness, and you can get a remake for free for PC, Rolling Madness 3D. It is great.

For 99% of old arcade coin op games though, I feel they have mostly nostalgia value, ie. if it is a game I didn't play in my childhood, it will probably leave me cold.

If you're looking for some fun run and gun arcade games, check out the Metal Slug series.

That too. For some reason I like Metal Slug X the best, considering music, action etc.

If you can get your claws onto it, I recommend Wild Guns. It is a shooting gallery game that has a cyber-western anime aesthetic, and features a defense mechanic where you can shoot down incoming bullets to gain access to a vulcan cannon. Each stage is destructible, and the game has two-player mode.

A damn fine game.
You might enjoy the PC version of Hamsterball.

Hamsterball

A few other good ones...
Galaga and Galaga 88
Final Fight
Smash-Tv

And of course the very cool After Burner arcade combat cockpit! Love playing that as a kid. After Burner is emulated, the cockpit not so much.

After Burner Deluxe Video Tour
https://www.youtube.com/watch?v=SOYF6736jrM