I know its kinda on the edge of wrong n' stuff...
But to ease the development, in the ways of mame, would it not be advantageous to read out the 512K ROM on a act labs gun, since they no longer produce it, to preserve it for future generations? The same way ROM images are being saved for Mame? (and just happen to possibly learn from it some good practices in gun tracking detection?)
I don't mean steal their programming, which is wrong, but I have pulled a ROM image from one working gun, and burned it into a new ROM to repair a broken gun before, and gleaming a bit of insight on how one of the best guns works couldn't hurt in the development of a new system.
I think that IR triangulation, and/or lasers are quite adventurous, but may not be practical taking into account the accuracy that most gamers want, that's why almost all gun systems in use have been "flicker" or beam position based, its the easiest, and most accurate way of telling exactly where the gun is aimed.
To get away from the "blinding flash" you could shorten the flicker duration to only one cycle, and possibly try only detecting it on one gun, blue perhaps, so the flicker isn't so annoying, or maybe even just raise the overall gamma to ensure their aren't any black areas in the picture, which the gun can't pick up.
Just some more ideas...
SD