GroovyMame, paired with the modified drivers, is to the best of my knowledge, the only solution to provide pixel perfect AND frame rate perfect emulation at the moment.
The focus on framerates it the biggest difference between Groovymame and other various builds. Having the system running the emulator at the game's original speed eliminates such visual and auditory problems as tearing, stuttering, and game timing issues.
Your arcade monitor can be driven with modelines that allow all the various resolutions to be changed between with no to minimal changes to the adjustment knobs (depending on the monitor).