I could always fall back to using rotary switch but it won't be able to do LCD display showing current system.
Perhaps you should explain just what you want to do in stead of saying "something like this". Seems what you want will have several different parts that will need to be sorted out.
With the rotary switch option, I have a pair of 6p12t rotary switches. I wanted to build switch box that handles a bunch of game systems and more to a single TV but the largest single switch box with S-Video and composite support only goes to 5 devices and I'd have to chain up a few to get all I wanted in.
The second one would control component for modern game systems (excluding PS3 it's on HDMI) and DVD player.
What stands is the common connection on the switch goes to the video "OUT" port for TV hookup, and each of the input would go to one of the 12 position. Composite, Chrome, Luma, audio L, audio R, and ground would go to each separate deck of the switch. Separated ground would be needed, if I took the cheap way and tied all the ground together, 12 devices plus TV cable, average 3', 5 ground lines per = almost 200 feet of continuous ground link, I doubt the FCC would like that :/
I'd do schematic but Eagle didn't have a neat solution for 6p12t, it'd take me a while to hand draw one, so I hope my description is enough.
If I can get analog IC working, someone suggested a few above and 4066 variant might work the best without wasting too much unused inputs. Arduino would control by toggling which of the chip gets enabled, in which the selected video would get passed through to TV out. The other inputs would need to be blocked to reduce any chance of interference. The only concern is the bandwidth. Audio might poass through OK unless one hooked it to a very good high end sound system and can hear any problem. Video is much higher bandwidth, I think 1Mhz for S-Video and composite and higher for component.
Arduino will also control a small LCD panel (something like 1x8 or 1x16) that will show the game system selected. The listing will need to be programmed in. ie if it selects video input 1, display "NES", if it selects input 2, sidplay "SNES", "Genesis", "TurboGrafx16", "PSX", "Atari2600", etc. Probably add a concealed photodiode so if it detects very dark (night time, lights out), then off LCD's backlight LED. I'd need to use I2C for the LCD and button so I'd have enough I/O to control video switching chips.
So I'd need to know of ideal chip that won't choke on video and audio signal and can be controlled by Arduino. 12-systems to one TV switch box with Composite and S-Video plus another with Component (maybe not 12 but minimum 6)
FWIW a few of my game systems also has RGB but RGB was rarely used in USA and most TV don't support it. RGB to component converter exists but it's pricey and 320x240 games isn't going to look that much better with RGB and $100 adapter than with S-Video on my 32" TV
Geez, what clod solders wires right to the legs of pins? Get real.
Admit it, we've all done it at some point...
guilty... and sometimes it can look cool while being extremely fragile: http://blog.makezine.com/2009/12/07/arduino-skeleton-look-mom-no-pcb/
I usually avoid PCB-less hack unless it's a very small one like piggybacking a 14 pin TTL IC onto ROM chip or something to fix a minor issue. It's rare, I usually leave the PCB-less design to one transistor and few passive components.