Gave these a quick try last night.
Chequered Flag looks pretty good but on my cab at least it was really difficult to control. I think it would benefit from an analogue controller, as with a joystick I was all over the place. I'll probably try it again when I have more time to tweak the settings.
Power Instinct 2 is another nice looking game, although not near the standard of Street Fighter 2 that it's obviously ripping off! I was quite pleased to find that the first character I chose (Samurai armour guy) has a fireball special move that's pulled off in exactly the same way as Ryu's fireball in SF2!
I wondered if perhaps all the characters had the same special move, but no, I tried a girl next and it did nothing.
My only real criticism of this one was that it's easy to be hit with a combo where there is nothing you can do about it, but it might need more playing to become used to it.
Rezon is a classic shooter in the R-Type vein, although the firing orbs are a pale imitation of R-Type's 'Force'. It's frustrating to have them firing the wrong direction, then move your ship to realign them, and accidentally crash into an enemy/landscape in the process!
I died within about a minute every time I played it, but of all the games in this week's MAMEROW, this genre is my favourite, so I'm going to vote for Rezon.