I've come to the point where I'm about to just drop all my plans for my first Cab and go take up knitting...or something...
I gave up on Hyperspin at least 3x before I got it working correcting and was happy with it.
I've set up a brand new install of Win7 Ultimate 32bit on a Core2 Duo 2.0 with 4gbRAM.
1) Switch to 64bit if you can. 32bit is crap. 64bit versions of emulators run quite a bit better too in most cases.
2) Turn off UAC and DEP in Windows.
3) How much HDD space do you have? You're going to need a lot depending on what emulators you get into.
I've been looking around at front ends and have decided on Hyperspin, now after fighting with it for 2 days, watching hours (yes HOURS) of outdated and seemingly misleading tutorials I'm about ready to give up.
Copious amounts of alcohol generally help.

Why does this have to be so
complicated?!!
Why do i need 40,000 different programs, from different corners of the internet with their own program for decompressing files?! (Seriously, who use 7z?!). And when i actually am able to get something (sort of) running, I get a billion different setup options?!
Because its modular. Really really really modular. You can do whatever the heck you want with it, once you understand what its doing. (thats the hard part, I know)
....Ok, i'm calm now...

Here's where i'm at,
I have downloaded the following zip files:
-"Hyperspin Install v1.3.2.0"
-"Hyperlaunch v3.0.0.9"
-"Mame0150b"
-"zsnesw151"
-A dozen random ROM files (Various systems)
I have chosen "C:\HyperSpin" as my install location for HS.
Inside "C:\HyperSpin\Emulators" i've created folders for "MAME", "ZSNES", and "RomFiles" (which has an "SNES" Sub dir, and i've dropped a single SNES ROM in there to test).
I've also apparently been told i need to install "HyperLaunch"
I've chosen "C:\HyperLaunch" as the ocation to extract those files.
So.. C:\ is fine. However, I have moved all my stuff to my D:\ drive. Why? If I need to nuke, reload, upgrade, whatever the OS drive, I can leave the D:\ alone and not have to try and back the damn thing up. I just partition a 60GB - 120GB C:\ drive, then give the rest to D:\. personal choice, but it can save you headaches down the road.
Under \Hyperspin\Emulators
I create them as SYSTEMS
\MAME\
\Super Nintendo\
\Sega Genesis\
etc
Then under those make an actual emulator and a games\roms folder
\Super Nintendo\Games (ROMs go here
\Super Nintendo\ZSNES.xxx (emulator goes here, with version number because it gets to be too much to track down the road
\Super Nintendo\"other emulator of choice" (You'll end up running different emulaors for different games for different reasons. So plan ahead.
\Super Nintendo\Installs (Stick your emulator install packages and supporting dependencies here - so you'll have an idea of what you did 3 years from now...

)
First Roadblock: I Launch HyperSpinHQ, point it at the EXE files for both MAME and ZSNES, Point it at the location of the ROM files. I select "HyperLaunch" execution. Then when i go into HyperSpin and move the wheel to lets say "Super Nintendo" and press enter, the wheel quickly flies out then back in, doing nothing. 
This is where HyperLaunch 3 comes in. You don't setup emulator paths and .EXE in HyperHQ anymore. I know.. . its confusing as all hell. HyperHQ is JUST for setting up the "Wheels". Its a front end.
Second Roadblock: MAME, when i launch the Mame.exe (located:C:\HyperSpin\Emulators\MAME) I get an error saying "No games found, Please check the rompath specified in the mame.ini file". Then it tells me that "It's my first time ...bla bla bla ...Config.txt..." I open that txt file and i can't make sense of where my next step even is! So there's that.
MAME expects its ROMs to be in \MAME\ROMS
Its sort of hard coded that way (it can be changed, but its not worth the effort honestly). The "mindset" that goes into designing an Arcade emulator is different from a Console emulator. Don't ask why - its just the way it is.
Third Roadblock: Mother
"HyperLaunch". I could go on a rant here, but i'll just get to the point: I have extracted the compressed file into the location: "C:\HyperSpin\HyperLaunch". When i go to launch "HyperLaunch.exe" I get a popup where i choose SNES, and my Rom. a "Test" button and a "Download Modules" button. The "test" button give me a condescending sound effect and an error about not having a "Default_Emulator". I follow the link to tat file it talks about in "C:\HyperSpin\HyperLaunch\Settings\Super Nintendo Entertainment System" and when i try to edit it, HyperLaunch give me another error no matter what i do. Also the "Download Modules" button links me to a page (http://hyperlist.hyperspin-fe.com/?module=browseahk) listing all sorts of systems, but not a single one has any "modules".
We'll get to Hyperlaunch in a bit. Its a lot to get your head around but holy crap it makes life easier than the "good old days".
Bottom line is I'm lost, frustrated, and about ready to give up on this whole project.
Been there. It'll all make sense in time....
THIS is how you setup HyperLaunch -
https://sites.google.com/site/hyperlaunch2/home/downloads (if you need help, just ask)
One more question for now.
Do you know what HyperSync is? Do you have platinum memberships at both Hyperspin-FE.com and Emumovies.com ? Because you're going to need them... Hyperspin is free, but access to the artwork and movies isn't.