I've been able to get most games to work, including Raid on Bungeling Bay using Congoblase's version. Most games do run slowly without upping the frame skip. Someone mentioned that they think it's due to the sound emulation because when the sound got accidentally disabled it ran much faster. If that's true, an option to disable the sound would help speed things up until a real solution can be found.
Some (but not many) do require the true disk emulation. Those that do take a very long time to load (just like the real thing). Once loaded, immediately save the game state (.fss file) so that the next time you want to play you can load that instead (those load instantly).
-Bri