If you just want to play the game with no bells or whistles, then FBA or MAME will work.
There is no better emulator to play CPS1, CPS2, NeoGeo, or Cave games than FBA. There is no other emulator on the XBOX that will run these in HD resolutions, or with graphics filters and still run at 60 FPS.
I'll take CPS1, CPS2, NeoGeo, and Cave games at 1080i, with high resolution graphics filters, and force feedback any day over plain jane vanilla mame at 480i.