I have Raiden Project on Playstation1 which of course contains Raiden II. I also have the Windows 95 PC Raiden II. but I have never seen the arcade version--and obviously Raiden II is not working in MAME or any other emulator (that i am aware of anyway). so my question, of course, is, are the PS1 and PC versions of Raiden II arcade-exact or what ?
I recall reading somewhere that the PC version is missing a subtle element or two from the PS1 port. Also I think someone on this forum with the PCB mentioned some subtle differences between the PS1 port and the PCB as well.
I never tried playing Raiden II 2 player in the arcade (everyon else was huddling around the Mortal Kombat and Street Fighter machines), so I can't verify if it's got the same slowdown problems that the Raiden Project version does.
I would say both ports are pretty arcade close. The PC verison's performance will depend on your computer's horsepower, so if you have a crappy PC, you may have slowdown problems.
The PS1 port is almost dead-on perfect (except that US verisons TATE mode doesn't alter the controls for that mode, so you have to TATE the controller as well).
Raiden DX ps1 port plays dead-on at par with the pcb; though it misses some of the colors. But it is the most accurate conversion I have ever played.
PC version is very good, but does not play exactly the same.