Simple answer on SF3 is NO.
It's not as simple as you'd think. But then again if you understood all that goes into emulation you'd already know the answer. Dreamcast and NAOMI emulation is pretty far away from happening. In emulation you are creating virtual machines to run the game in question. While the DC CPU is a RISC based 200Mhz system its architecture is actually pretty complex. That is why a lot of the current games you see in arcades today generating revenue are based on the same core technology (NAOMI). Games like 'Virtua Fighter 4, Marvel vs Capcom 2, SF3 Third Strike, Guilty Gear, Ikaruga, Border Down, Inital D, etc.....) are all using slightly more advanced versions of the hardware used in the Dreamcast.
I happen to own an extensive NAOMI collection and have all the direct ports of the games on the Dreamcast and there is very little difference in game play.
I'm not trying to convince you to put a DC in your cab, but rather stating that if you truly want SF3 Third Strike in there it will have to be by either using the legit arcade hardware or by putting a console in the cab and the best version of that game is on the Dreamcast.
Good luck on whatever you do...
-Goz