I also have often thought about these games and have made it a hobby of sorts to collect them simply for fun. I have most of them actually, and can answer your questions rather well...
Aero Fighters /Sonic Wings - original was an arcade release by Mc'ORiver. a vertically oriented shooter on a standard jamma board. was the number one competitor to Fabtek's Raiden, the other big earner for operators at the time. SNES version is fairly accurate, very well done.
Alpha Mission - original was also an arcade release by snk. older non-jamma boardset. Most well known version was the 1987 NES release. Star Force by Tecmo (a comparible title) had far better graphics and sound, but did not have the great power up system that made alpha mission so great.
Magical Drop - original is called "Chain Reaction" by data east and is also available as a jamma board originally. I am unsure which (if any?) home translations may exist? anyone?
Power Instinct 1-3 - originals were also arcade boards. Made by Atlus. The snes had a translation of part one, and maybe others.
Power Spikes - original was called "Super Volleyball" and was made on several systems. most notable were on genesis and turbografx.
Prehistoric Isle - original was also an snk arcade game. I am unsure if any home version was ever attempted. anyone?
...games you missed...
Fighters History - arcade jamma board by Data East and released on the snes and possibly other home systems.
Dashin' Desperados - unofficial prequel to Spinmaster by Data East. stars the same dynamic duo and was released on the genesis.
Baseball Stars - original was by SNK on the NES. the neo version..."baseball stars professional" is basically a sequel. so neogeo's baseball stars 2 is actually part 3
R-Type - unofficial prequel to Pulstar?!
well, arguably yes. Team AICOM was formed by the ex-employees of IREM and so this game can be called a sequel.
hope this was as much fun for you to read as it was for me to write.
Billy Pitt