You can pull off just about anything with AHK.
Everyone should know how to remap keys and kill programs.
Those things are so simple they can be learned in a few minutes.
http://www.autohotkey.com/docs/Tutorial.htm(a better, more emulator specific way would be just to search for ahk scripts in the byoac software subforum)
The Taito Type X games on my stand-up cab are from back when they were first released and are very finicky.
Raiden IV wouldn't launch if my front-end (Mala) was running, so I have an AHK script that:
1. Puts up a loading screen to hide everything
2. kills Mala
3. posts the command to have a pololu motor controller physically rotate my screen
4. remove the loading screen
5. then when ESC is pressed, it
6. kills Raiden IV
7. resets the desktop resolution
8. writes to the mala.ini file to skip the intro video, set orientation to vertical, and note where the user was in the gamelist
(mala writes this on exit, so it doesn't get done when killing it suddenly)
9. relaunches mala
Crazy number of workarounds, but in the end it works the way I want it to.
I can launch and play Raiden IV from my front-end like any other game.
The only big limitations are that key binding doesn't work on emulators like MAME that get their input via raw-input and on Vista and later it cannot block keys.
(MAME will accept fake gamepad input though and if you compile your own it's a one line change for it to accept fake keys)
Other than that, anything that can be done in windows by you, can be automated by ahk.