There's also a version of Super Hang on that runs on Space Harrier hardware - also different from System16 hardware:
I doubt a MAME port, even with an ASM 68000 core will be able to emulate the dual 68000 cpu hardware at full speed.
Code:
Main CPU : 2 x MC68000 @ 10 MHz
Sound CPU : Z80 @ 4 MHz
Sound;
1st Configuration : YM2151 @ 4 MHz & SegaPCM @ 15.625 kHz
2nd Configuration : YM2203 @ 4 MHz & SegaPCM @ 31.250 kHz
Video resoution : 320 x 224
Board composition : CPU board + Video board
Hardware Features : 128 Sprites on screen at one time, 2 tile layers, 1 text layer, 1 sprite layer with hardware sprite zooming, 1 road layer, translucent shadows
I doubt a MAME port, even with an ASM 68000 core will be able to emulate the dual 68000 cpu hardware at full speed.