Yea I think so, I'm not sure what the ddifference is if u change the difficulty through bios or hard dip switch. I new to the neo geo mvs. If anyone can clarify
I was in the same boat myself not so long ago. As Shadow confirmed setting dip 4+5 will change the difficulty for the 120-in-1 games. Get a nice soft cloth to put the Omega on, flip it upside down and use a hairdryer to heat up the rubber feet, after 3 mins the glue will become really lose and you and just pop them off in order to gain access to the screws. I'd put the feet in a plastic box so dust and fluff don't stick to the gluey side of them.
When you open the Omega take care with the power LED so gently lift the top cover and the power LED can be unplugged from the housing it is in. The dips are on the left side of the motherboard, I disabled free-play myself so my credits count when inserted (a personal preference so I can set myself challenges and keep track easier how many continues I'm using, unibios still lets you have infinite coins. Insert the cart and turn on the system, at the game select screen hit dip 4+5 and the screen will change to the difficulty and life count screen. Here you need to scroll through each game (a laggy slow process) and set the difficulty and number of lives. I think I set mine to 4 and 3. Once you have done all the games flick dip 4+5 back up and it will return you to the normal game select screen. This is now permanently saved until you repeat this process so next time all your games will be stuck at the new setting.
Reheat the rubber feet again before applying to the Omega and they will stick back on like new. This whole process took about 40 mins and is well worth doing. I love having a multi-cart but have already bought half a dozen legit games that are on the 120-in-1 as the real deals are nice to have
I love my Omega, kudos again to Shadowkn55 for building a fantastic CMVS!