Wow, I'm so glad I found this thread. Go VanillaThunder!!!
I'm very excited to see what happens. I own the GameElf 512-1, (which i purchased in July of this year), and the Blue elf 2012 v.2.0 board. They both seem to have positives and negatives...If we could somehow mess around with different versions of Mame, or Mame4All or whatever, with different rom sets we might be able to solve some of these problems. I know it can't be the processor, because otherwise why would CPS2 games seem to run much smoother and better than CPS1 games? The sound buffering on the CPS1 titles on this new board (Game elf 512-1) is terrible.
If we can't solve any of these issues, but were able to just add some other roms to test that would be worth it alone.
Keep up the good work! I'll be cheering you on