I'll check out the documentation. Seems that version 0.111 is the last one to have that option. When I tried 0.112, that's when I see the option no longer available, but then, I know sometimes they have added things, then subtracted, then added again, and ... yeesh..
The Info.dat entry for the "pacman.c" driver confirms the speedup options were moved from dipswitches to "configuration" switches at that time.
- 0.111u3: Nathan Woods and Aaron Giles updated input port tokenization for MESS. Added support in MAME for "configuration" switches which are separate from dipswitches. These can be used to configure aspects of the game that don't correspond to dipswitches. Modified pacman.c to use configurations to control the speedup options. Removed '2x Speed Cheat' dipswitch.
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I think I remember reading somewhere that the speedup hack was part of the cheat system for a while, but don't remember the relevant range of MAME versions.

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The Info.dat entry mentions this:
- 0.126u2: Brian Troha added information on how to toggle the built-in speedup in Ms. Pac-Man.
From what I can tell, that entry from Brian pertains to "20pacgal" - Ms. Pac-Man/Galaga - Class of 1981 (c) 2004 Namco.
* To toggle the built-in speedup, insert coins then enter the following sequence : Left, Right, Left, Right, Up(x3), Fire. If you did it correctly, the sound heard in both "Pac-Man" and "Ms. Pac-Man" when you eat a bonus fruit item will play. This will toggle the speed in both Ms Pac-Man & Pac-Man as well as provide a 'Fast Shot' in Galaga.
The quote from Info.dat is copy/pasted from what showed up in the frontend under mspacmnf.

The Info.dat entry for 20pacgal mentions the Galaga speedup, but not the Ms. Pac speedup:
- 0.126u2: Brian Troha added information on how to toggle the fast shot in 20pacgal (Galaga).
Looks like either he did similar documentation work on both mspacmnf and 20pacgal at that time
or Info.dat misattributed his work on the Ms. Pac speed hack toggle info for 20pacgal to mspacmnf.
Either way, glad you found a known working version of Hot Pursuit.

Scott