Yes, I want to control the other machine in real time. The reason I said 'serial' was because I was thinking the output of the mouse movements (over the serial port) could be directly interfaced to the trackball control of the dedicated cabinet.
My guess is that you wouldn't get the same results repeated twice in Mame even if you repeated identical mouse movements. In fact I would bet good money that it wouldn't work quite right.
1) I don't know how you would tell your device to begin outputting at EXACTLY the correct moment
2) Even on the same computer being fed identical mouse input, the timing of when the computer will read the inputs will be slightly different. While replaying an arcade game, all it will take is one tiny difference to completely ruin the whole game.
Question, though: I'm sure the record option just creates a file of all the inputs. What does the -playback option do? Does it just playback on the same machine or can I output the playback through some kind of physical interface?
-record records all the inputs into a file. You can then move that file to another computer running Mame, and repeat the exact same game that was recorded. No, there is no physical device that will playback the file.
This way, I can have 'demo's' of game play that is customized when we do shows.
What exactly are you trying to do? Why wouldn't you simply record it into a video file or a Mame recording?