More News:
"....Haze (of
http://haze.mameworld.info/) is a MAME developer and until CPS3 emulation meets the MAME requirements, it won't be playable on MAME.
You should just watch that speksnk.com link I posted. Elsemi (creator of Nebula & Model 2 emulator) is making progress faster than Haze (since he doesn't have to meet MAME standards). He will also release a CPS3 emulator the second all the graphics problems are fixed, which should be in a couple of days now.
That CPS3 emulator will be faster than MAME (due to speedhacks, which MAME doesn't allow) and won't need the CDs to be playable.
Unlike MAME which will need the ROM+CD combo just as the real arcade and that still hasn't been figured out to work."
We'll have to wait a while in MAME, but we know that some idiot will put it in MAME, or Kawaks soon. But for now, we'll just have to deal with a custom emulator, I think.