That said i popped in a Nvidia GT 8800 and got the same result,

@knipik On Windows PC, go with Demul.

libretro reicast does work on the pi, but the performance is trash.
I've been testing and the libretro reicast just works, isn't as functional as the standalone one, there are bugs and is slow. the only advantage is the naomi support.

EDIT: I should have said that is still experimental and you have to compile it yourself.

Great, thanks for testing this !

Thanks for the answers and clarification.

Can't have everything I guess.
Demul was open source at the very beginning but people didn't show any interest so they decided to lock the code and won't open it anymore. At least not anytime soon. Looks like pride is more important to them.

lr-fbalpha covers already so many awesome games which will keep us busy for quite a while.
I think besides that there is no emulator right now the other issue is hardware power. The Pi3 most like won't have the necessary specs to run any of those Atomiswave games.