Just to finish this up. DarthMarino is absolutely right and I actually knew that but its been so long since I've played with a group I wasn't thinking. Though I still prefer the MAME Pause in general.
I also notice Save States don't help I guess because its a CHD game so the boot time is faster but not much faster than the real one. Mind you I will point out even with my Flash drive on my real one, sometimes it needs to go through sort of a scandisk on startup looking for corrupted files and this is time consuming and not something that would be an issue in MAME.
As for my testing. I have an Intel 2500K ,4GB, HD4350 Video card with Groovymame 169. The CPU is a work horse but not the fastest around anymore. I could easily overclock it a couple hundred Megahertz but did not bother trying.
I tried GTFORE02, 05 and 06. 06 is the one you want in My Opinion as it is the Complete version with 20+ courses.
I can get 02 and 05 running over 99% in Low Res Mode, 02 is basically perfect after the first hole. 05 is not as good but you hardly notice the sound glitching after the first hole. I didn't try too much optimizing my Mame setup much for these two as I found them acceptable already if you don't mind the look of Low Res mode. I suspect 02 could be made perfect even in Medium Res if you know your stuff with Mame.
I did try some things with 06 and I cannot get it perfect even in Low Res Mode, but in Medium Mode I decided to try a few things. At best I could get 98%+ average speed. The sound issue is barely anything after you get past the first hole and it is a complete non-issue during gameplay its only between holes when it is playing the music and loading the next hole where you see any problems (maybe it would be better if I had an SSD?). I should note I am no pro with some of these mame.ini settings, I tried a bunch of things and most made it worse but it did seem like increasing Frame Delay made an improvement and in this style of game I did not find it impacting the gameplay. There might be smarter ways to adjust things, and my understanding is if your video card happens to support a closer resolution and refresh rate to the original game you will have better syncing than I do.
I hope this helps someone, I'd be interested in hearing if someone runs it perfectly I might get rid of my real GT cab and put something else in its space.