Speaking of Master Systems, can someone test Bank Panic on their end? It seems to be broken on all versions except smsj. CRC of the tested ROM image is B4DFB825; works with Meka's built-in BIOS (unless it's just a 'watch the SEGA logo' before the game starts), and in Dega.
Tested in MESS 0.126 with the v1.3, Hang-on and Alex Kidd BIOS sets, both NTSC and PAL.
Together with your next post this sounds like a checksum issue. The japanese bioses never calculate and match the checksums reported by a cartridge. The old sg1000 games did not have the checksum byte in their headers, so to keep backwards compatible sega removed the checksum checking from the japanese bios code. The euro and us bioses do calcuate and check the checksum however.
So, the sg1000 image that works on a euro/us bios is actually a checksum-fixed version of the original rom image.