I'm just as wary as you about old electrical stuff, especially from the US where a) back in the 70s and 80s the safety standards weren't like they are today and b) there's a slightly lackadaisical attitude because 120V is considered more "safe" and less likely to kill you than 240V. This is of course mis-placed trust. 120V will fry you good and proper just like 240V
Having good/modern domestic fuse equipment is good, but always best to make sure any equipment is up to snuff too. If in doubt, get someone who knows. Dying ain't worth it.
But that aside, you shouldn't be getting any kind of tingle from a switch like this. If you're up to it stick you multimeter on AC volts and measure between the earth and the switch body. It should be zero. Anything else means the internal switch insulation is failing/failed. Get a new switch anyway! Be careful when do this as obviously there's live 240V mains on the switch terminals.
As for switch type you'll only need a DPST (Double Pole, Single Throw) which is effectively two SPST (Single Pole, Single Throw) switches under common control. You only need Single Throw because you just want to break or make the connection, not switch it back and forth between two options. You need Double Pole because for a master power switch it's best to kill both the live and neutral connections:
For details about different switch types, go Wikipedia!
http://en.wikipedia.org/wiki/Switch#Contact_terminology
The switch itself should be rated for at least 3A but the large toggle switches used on these games are usually all good for at least 10A @ 250VAC.