Does mame32 implement CRC checking? if so, you may have the wrong rom.
I have got Mame32 v0.85 and i can get Radiant Silvergun to run up until the title screen, It goes through the normal ST-V boot-up and then when you press start at the title screen it just freezes. My PC is pretty good so thats not a problem
P4 3.2 Extreme, 2Gig DDR400, Asus Radeon 9800 XT Pro, Asus P4-800 E mobo.