I've posted this is the MAME forum. I paste it here because maybe you are also interested in this.
I suppose these games have correct graphics, but they look ugly with the default setup. If you pay attention, in some cases the colours have too much light and not enough contrast and saturation. The darkest colours of the palette are too distant from black, which actually appears sometimes as pure black, creating a horrible contrast. I've noticed this with some games, specially by SEGA and Konami. See, for intance, Golden Axe, Vigilante, Violent Storm, Alien Syndrome, Elevator Action Returns... Reducing gamma to 0.6, 0.7... (depends on if you are using a pc monitor, an arcade monitor etc), improves the visuals in these games, darkening the colours and making them look more saturated and vibrant. My idea is to create a list of games which look better with lower gamma values. It will take some time to review all the games I have. Have you spoted the same problem? In that case, can you name games with this abnormal excessive luminance?