Some good news from the MAME camp: 0.102u4 is out an there have been some impressive speedups and improvements to ST-V (Sega Titan Video) hardware, particular for the 2D games. What once were expected to need 6GHz+ now show some games running smoothly on 3GHz machines.
Interesting games that might become playable sooner than expected:
Guardian Force
Cotton 2
Cotton Boomerang
Radiant Silvergun

Shienryu
Terra Diver
I'm going to test/benchmark a bunch of these tonight.