Model 2 Emulator v1.1 is released. Model 2 Emulator is a SEGA Model 2, SEGA Model 2A, SEGA Model 2B and SEGA Model 2C arcade game Emulator for Windows by ElSemi, who is also author of Nebula emulator. Sega Model 2 Emulator now includes network play support.

Model 2 Emulator v1.1 Changelog:
Update after long time silent. This is a version that has been sitting in my HD for some years.
- Fixed sound output only outputting mono audio
- Added customizable pixel shader for texture replacement (see model2lua.txt)
- Fixed Emulator->Exit not saving configuration
- The emulator will now try to use pixel shader 2.0 when pixel shader 3.0 is unavailable
- Added Full screen antialiasing (fsaa=1 in emulator.ini)
- Fixed some 3D errors in dynamite cop causing low res textures to be used
- Fixed texture replacement when two textures share the same tag data

Download: Model 2 Emulator v1.1
Source: Here