Uh.. Tora, MAME plays CPS1-2, NeoGeo and just about all 2D based arcade hardware from the past 25 years.
MAME doesnt have layer disablers like Kawaks or NeoRageX. But if your ripping sprites from old games (eg. Pacman) they mostly on a solid color background and arent that difficult to do.
If your doing CPS1,2, or Neo, use Kawaks or NeoGeo or Nebula.