Driver-man, I see where you're going and understand you still haven't found someone that can debunk your misconceptions... but the fact is, there ARE misconceptions in your logic.
The issue of parallel VS serial (being COM ports, LPT ports, USB, firewire or whatever - USB isn't the best out there) is old as can be. There are EE courses specializing just in that. Really, there are, and high speed digital system classes aren't the easiest ones out there.
For starters, parallel has limitations. It is a case of speed against distance. Really. At high speed, you are limited of how quick and how far you can send the parallel signals if you want to ensure they are all synchronized, to ensure you can read all the parallel bits together and reform the original data. The longer the bus, the slower you can send data to it. That's even without talking about interference, crosstalk, capacitance, wire configuration and all that jazz. Plus, you need control bits to ensure data validation.
That is why they made multiplexors and protocole, and why serial became so popular; more control, less data loss, higher speed. Look at the emergence of serial ata! Remember also that most parallel ports on computers don't run at high speed, and can even be handles by plug-in USB devices.
But all that isn't the main flaw in this whole parallel VS serial logic.
The main issue with parallel arise with the number of I/O you want to use. A normal LPT port has 9 IO plus control signals. for a two player / six button control pannel with 2 starts and no admin buttons, you have 22 separate inputs, and therefore would require 3 LPT ports, or another type of parallel port (remember LPT isn't the only one out there.)
Or you go with multiplexing, but then you loose the whole authenticity point.
Then again, for authenticity, you'd need the emulator to read the button state directly from the buttons, not trough a conversion service, so that is not even a valid point until MAME handles the ports themselves.
Whatever happens, the buttons are read somewhere, and made available for the emulator to poll when its ready. If your solution includes any type of buffering, then being serial, or parallel, doesn't really change the end result that it is not authentic.
Another thing to take into consideration, is that the USB channel won't be polling the buttons, nor will the host so we don't care that USB1.1 is going at 12Mbits/s. There is a microcontroller on the device side that polls the buttons at higher speed and sends the data in a formatted grid as a one shot to the USB host, and the driver will then sends all the data at once in memory, which is similar in the end to what you see in true unbuffered parallel from a system perspective. To the eyes of the emulated PCB, the data is just there when it polls it, no matter how it was set.
Remember: the emulator software is running at higher speed then the PCB it emulates, so the difference is negligible. You know what? the games don't constantly look at button states, it polls them one at a time somewhere in their main loop, and builds a state grid, passing by a debouncing algorythm. When that happens, the button represention within memory is good ennough for the emulator not to care who sends it in.
Yes, there are more steps between the buttons and the CPU using it using USB then a CPU parallel bus. But, the game polls a MAME representation of the buttons status as opposed to poll the actual buttons. So we don't care, really. No, we don't. For the emulated PCB, its the same. It really is.
As being mentionned earlier, if you're after authenticity, the only way out is to own authentic hardware. Otherwise, emulation does an excellent job.
What you seem to be confused with, however, is the ghosting effect of some keyboards.
Some keyboards (most) don't have a physical button for every single keys. They use a physical grid, and from the various signals it reads, extrapolate what buttons are being pressed. This is good for typing, but for keymash like what we see with multiplayer games, that cas cause problems: some keys virtually "hides" others as they use the same base grid signals, resulting in some buttons being omitted from the final result.
This is completely bypassed with keyboard adapters, because they rely on specific switch for every buttons, and poll them at high speed.
Now... I already know what you want to answer right now, if you haven't already started an answer before even finishing to read the whole post.
"can you prove it".
Well, you know, trolls asks for pre-chewed answers, proof from the president himself. Do your homework and get documentation from your own source that you find reliable... there are standards, read up IEEE publications, look at specsheets. People have been doing it for years with great result, there's no rocket science in looking up data. So before stating that what's being said isn't fact, try to see for yourself.