Cave:
did what you said, renamed my old mame.ini and created a new one (i'd have never thought of that

)
anywho, setup the following in the new .ini file:
hwstretch 1
resolution 640x480
effect sharp
high_priority 1
skip_disclaimer 1
skip_info 1
and also turned off artwork, backdrops, overlays and bezels, fired up mame and the sound problem was solved.........but, got nasty video 'tearing' in the game i ran (using SmashTV as a test).
after fiddling around with the .ini file i found that turning on either triplebuffer, or waitvsync would cause the problems again (and also, the autoframeskip would report between 89% and 110%, at anything between 47 and 58fps (out of 53fps)).
grrrr
is there any damn solution that can get rid of the video tearing, but leave the sound alone?!?!?
this really bugs me, its like you can either have nice video, or nice sound, but not both at the same time...
(just waiting for Howard to come along and tell me i need a P4 3Ghz to be able to run MAME properly

)
but seriously, i dont think this is a 'CPU not fast enough' situation, as the problems go away as soon as i connect my PC monitor...it only seems to happen with the tv!?
EDIT:
ok, just ran SmashTV again, using my computer monitor - same settings as above (but with waitvsync and triplebuffer enabled)
sound is fine, graphics look nice and smooth, and the frameskip constantly flickers between 99% and 100%, the fps runs at 53/53 and very occasionaly flicks down to 46/53
seems to just be a problem with the tv-out on the graphics card...hmmm