I have yet to test SF3 on the newest versions, but considering it ran Burning Rangers perfectly (including the ultra-hacky transparencies), and considering it looked pretty much glitch-free in the 0.6x series, I hope it runs 100% on 0.7x.
Amazingly, SF3 doesn't do anything whacky beyond vanilla Saturn capabilities. It's just very well coded, optimized and with properly-made art assets.