This would most probably be of no use. The version Mame4All is based on was one of the last, that included many speedhacks. Those hacks were removed later for greater accuracy as CPUs generally got faster and faster. Many of the games, that run fine in Mame4All wouldn't run as fine, if a new Mame would be ported.
Apart from this, Mame4All includes many optimizations as well, that make it run faster on slow machines like the Caanoo.
So, you would have a newer Mame, but it wouldn't work as good as Mame4All.