The Michael Larson story is absolutely fascinating. The Game Show Network produced a made-for-TV documentary about this called Big Bucks: The Press Your Luck Scandal that I highly recommend watching. If I remember correctly, they brought in Long and Litras to play a re-created Press Your Luck game, who were both successfully taught how to time the board the way that Larson did. If one knew the board as well as Larson did, it'd be easier to beat than any arcade timing game.
If you're interested in game show cheating scandals, I also highly recommend Major Fraud, a documentary about a cheater on Who Wants To Be A Millionaire. The summary of that one is an audience signal via coughing.
Charles Ingram, a former British Army major, won £1,000,000 after his wife (planted in the audience) coughed to signify each correct answer. Unlike Larson, his winnings were rescinded.
If you're interested in game show cheating scandals, I also highly recommend Major Fraud, a documentary about a cheater on Who Wants To Be A Millionaire. The summary of that one is an audience signal via coughing.