Atomic and I tried to do a 7 game series earlier. Unfortunately, tech trouble led to us bailing and finishing with GENs.
Installation was straightforward. I did have the "no audio" issue, but saw where to fix it. I am using a real Genesis controller and a USB adapter. Once I plugged it in, it seemed to be detected (or possibly the defaults were correct) so I didn't have to change anything. This was lucky, because all of the gamepad options did look confusing.
I hosted first. Three games went without issue. It did feel slightly laggy at times, but unlike GENs, the lag felt "smoother". There were no missing frames, or big speed ups. Hard to describe, but sort of like I could feel my gamepad moves being resisted a little. Still, seemed much more solid than GENs.
Trouble started when Atomic hosted the next one. (We do 3-3-1, so game 4 was at home for Atomic.) On my side, there was a jitter unlike anything I have seen before. Literally players were jumping 10-20 pixels and then re-aligning where they should be. It was unplayable on my end. We tweaked settings a bit, moving frame rate to 0, 1 and 2. None of it helped. We also tweaked a couple other things. Didn't work.
Additionally, when we tried to drop and reconnect there were issues. Sometimes it would say network "NICK", whereas other times it would say (correctly) AQUA or ATOMIC even though we were doing the network join the same way every time. Sometimes a join looked correct, yet didn't seem to take.
We got frustrated and bailed on it. Restarted series in GENs, which worked, for once. (Proving the NHL94 Gods wanted to toy with us, on this day.)