I was pretty happy with the vivanonno emulator, but had to drop it due to lack
of 'start-up-in-fullscreen-with-RaveRacer'...so no good for arcade cabinet.
Then I saw the 0.4 Model 2 emulator with Desert Tank etc., and that has the same
problem. 
I currently run the newest version of the Model 2 emulator with Mala in fullscreen. The newest version has a menu item called Auto Switch to Fullscreen. I use closemul so that the ESC key exits.
In other words, to run Daytona from a batch file (which I do because I combine the M2 games with the other Mame games in the same gamelist), use:
closemul.exe emulator.exe daytona
Be forewarned, if you are running a rom with only 3 letters, M2 parses the rom name as an extension for some reason. Therefore to get all roms to run properly you have to use:
closemul.exe emulator.exe zip daytona rar
That will work for both daytona and von, for example.
Also, unfortunately you will see a quick flash of the M2 gui before it goes to full screen.