@Justin: yeah, I noticed those bugzilla entries after Arbee's comment. and I was positively surprised by the improvement in Xmas demo. I'll take a look at the horizontal problem soon (I have a few cleanups pending which will be soon in svn)
@Kale: the text problem, which also happen in Seiken Densetsu 3, is related to either subscreen masking or color blending between main/subscreen. if you press Numkey 6 during emulation, you will se that toggling the screen fixes the problem. I still haven't found the culprit though (there are a couple of bugs in current svn, but I have fixed them locally and the hires problem is still there... will investigate more later)
about Tokimeki text, I was blaming DMA/HDMA since the text is not drawn anywhere apparently, but I haven't investigated further because I was already more than busy with adding OPT
of course, you are welcome to contribute