SNK Arcade Collection Vol. 1 (PSP) is bad.
Bought it because I want some NG games, and it was 16 games for $20. I already have almost all NGS games for ps3 and I double dipped some of them for the vita.
But the emulation is pretty shitty, and really noticeable if you played them before. The games haven't region switching (so no blood on SS), no "how to play", almost no screen and filter options, etc.
Not only that, almost all games is somewhat different that you remeber. Art of Fighting and SS have weird quirks with hitboxes and AI, so it looks like you are playing a rainbow edition. AoF and SS lost almost all cutscenes voices (only Robert have its voice), Fatal Fury have a VERY different opening. KOF94 have a bizarre frameskip that occurs randomly. Some games are more faithful, like Magician Lord, King of the Monsters, Metal Slug and Top Hunters.
The only thing that the game have is achievent medals that pop-up, just like trophies, that unlocks extras with the games. but I can't recommend this collection. Stick with the M2 NeoGeo Station releases, even if they are more expensive.