Some excellent Super Desperation Moves' sound effects... Iori and Kyo are quite recognizable...Ryu too... There should be some Kouryu's lines, they kick ass. "Biyoku! Amarini mo Biyoku!" Got to love that Metal Slug background music.
The newest versions of WinUAE should have CD32 support...I wouldn't know for sure, since those new versions don't work for me. Just check the emulator options/settings.
I would think that it has something to do with the roms being zipped and the zip contains multiple files, instead of just one rom image. Or have you seen an arcade emulator that uses single rom images?
It is possible, but I'm not sure how it's actually done. Maybe you have to patch the ISO with an IPS file or patch a file, and then turn the whole thing into an ISO.
Metal Slug 5 indeed works in EGCG NeoRAGEx. I just tested it. All you need is the new dump (v1.1) of the P1 rom. You can get it from http://www.neogamez.net.
Just grab a Neo-Geo Pocket emulator and the rom... --> Play it like mad. time to change some new games ei? Well, the NGP version is the only thing you'll get until Gals Fighters 04 is released.
If you're using Kawaks, put it in the same directory as your Neo-Geo BIOS. If you're using NeoRAGEx, rename the BIOS file to "neo-geo.rom" and replace the old BIOS with it. (This works with Kawaks as well.)