Hey... Let's just say I'm kind of excited. This may be old news to you all, but I did a few searches and didn't really find anything, except for a very vague/brief note in the advance mame instruction file.
As a few may already know, some of us have to make compromises and use a PC monitor to up the quality of the 'vector experience'. Yeah, I'm one of those who sacrificed the arcade monitor reality of hundreds of games to make a couple games halfway decent (ahem, asteroids. ahem, tempest). I know, hundreds of you can't fathom why I'd do this, but there may be a few who can relate (one, maybe two. anyone? anyone?)
Anyway, to make a long story short, I finally dl'ed a copy of advmame. I got very excited over the perfect stretching it does, filling up every pixel of my screen on horizontals, and every necessary pixel on verticals. I played with the various filters and scanline options, and fairly disappointed... that is, until I realized the key is TRIPLING the suggested resolution of the game. After tripling the resolution, the 'scanvert3' option gives me the pc monitor an uncanny resemblence to an arcade monitor.
I know, I know, all of you arcade monitor guys are gasping at the idea of this, and you're right, it's not 100% the same, but i feel it's about as close as us PC monitor guys can get. You will always win in the quality race, and the only reasons going the PC monitor route is 'sane' (almost) is for the quality of the vector games (if you care) or if you're just cheapin out and using a spare monitor you have on hand (like anyone has spare 21" + pc monitors laying around.

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A few other details:
I'm using a Pentium III 600, and it seems to cut the framerate in half, but it's a consistent 50% and I am honestly 100% surprised that I don't notice a difference between a 50% framerate and 100% framerate, on about 98.5% of the games. Advancemame does something different w/ framerated than the regular mame build (i think because they are 'fixed'), because this is something i'd surely notice in the old mame builds. The games that it doesn't seem to work well with are games where only small objects in the foreground here and there have very smooth scrolling (ie, the ball in arkanoid, or the balls in Pang). Games with complete scrolling backrounds (1942, and um, a million others) there's no noticeable difference. and games with mostly fixed background (Marvel vs. Capcom and the like) look freakin 100% as well. I'm totally psyched about this, can you tell?

Again, though, I have a PIII 600 w/ 128 megs of RAM. With a faster computer I doubt you'd even get a drop in framerate.
So... that's the secret; Triple the resolution, it's under the 'Video' option in the Mame 'TAB' screen (in-game), under 'Mode', etc.. etc... then play with the various RGB filters (scan3vert worked best, horizontals gave me a freakin headache for some reason, along with moving a lot and looking fake)... if the filters aren't working, you may have to turn RGB 'on'. Some games needed it (older ones), most didn't. There were a few games that I felt simply looked better without it, worked great, just looked better without it, but besides the 5 that didn't work well and the 3 i preferred without it, the other 140 odd games on my machine rock hardcore because of it!
I hope this info was useful to someone.
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Aye... I meant to post this in the software forum. If any of the powers-that-be could move this bad boy over there, yeah, that would be great.