Yes, the -soundsync option was removed with the new implementation, but the functionality is still there, it's only that now the sound is always tied to the emulation speed.
The old patch was taken from CabMAME, it worked by dynamically modifying the sample rate of the directsound's buffer. There was no way to do this on the SDL side.
The new patch gets the sound mixed at the correct rate before it's sent to the OSD layer, that makes it OS independent.