Hi,
You are assuming that FBA and MAME are the same, which they are not.
MAME is all about accuracy and emulation of the hardware. FBA takes advantage of your video card harware and not sure what other hacks it uses. so it is not a fair comparison.
Try an older version of MAME and see if you have better luck
Exactly. FBA, Kawaks, Nebula, etc all add speed hacks to games. The links I posted above explain why MAME does not and will not add speed hacks.
As mentioned, if you want to use older hardware, then don't use MAME. To play a good 90% of MAME games on a modern MAME build, you'd require at least a 1.5GHz processor. End of story.
You can't compare old versions of MAME with new ones. The sheer volume of changes the MAME Devs have put into MAME in the last 12 months is mind boggling. Just sit down and take the time to read the changelogs, and you'll see what I mean.
Other than that, I can only recommend the following:
1) Turn your video card's vsync "off by default" in your specific control panel (at an operating system / video driver level, independant of MAME)
2) Set your monitor's refresh rate to 60Hz.
3) Make sure you are using the latest available drivers for your video card. DO NOT use the default Windows drivers, as they often severely blow goats. Also ensure you are running the latest drivers for your motherboard and AGP chipsets. (Via 4-in-1/hyperion drrivers, Intel INF drivers, SiS AGP drivers, or whatever is particular to your board's chipset). If the information can't get to the video bus quickly enough due to poor system drivers, you'll also see terrible slowdown. Again, don't rely on the default Windows drivers all the time, as they are often out of date.
4) Do not use Direct3D for MAME. Use DirectDraw.
5) Within MAME, turn vsync OFF, triple-buffer ON. Also set options like "nosleep" ON, so that MAME is a bit more agressive when asking for CPU time. Likewise, turn all the Windows background crap off. Don't have disk indexing on, and eye candy maxxed. Doing so is a waste of CPU time when you don't see any of it while playing fullscreen games.
6) Ensure all other MAME CPU wasters like scanlines, blit effects, blah blah are all turned OFF.
7) Some people also recommend turning frameskipping off. This sounds counter-intuitive at first, but realise that CPU power is often wasted trying to calculate a constantly changing frameskip level. Hard set it to 0 (no frameskip or the "-noafs" flag in command-line MAME). Games like Mortal Kombat, NBA Jam and others are known to run a touch faster on "borderline" hardware with AFS turned off.
With all that done, try MAME again. If you *still* can't get the performance you desire, then I'm afraid it's FBA/Kawaks/Nebula for you. Either that, or grab a legacy MAME build and use it instead.