It also depends on the version of MAME youre using and what your settings are. MAME32 119 runs most of the newer, 1995-2002 games perfectly, but cant run even Pac-Man without lagging. My MAME32 67 runs all the NEO-GEO perfectly but sucks with everything else. And this is with all of the versions default settings too.
I have a custom, hardcore gaming PC for playing BF2142, which really crunches the processors and for the most part it runs perfect, but even with a $1,500 gaming PC, it runs MAME like crap. For me its hit and miss with MAME and most of the emulators.