I basically read over this thread and started looking at the Pin2K CPU system out of curiosity as I never understood why this platform never made it onto PCs via emulation before I bought an RFM ... I am not making an attempt to trivialize anything here and I'm assuming the end result of something like this would comply with opensource licenses ... moreover, my software skills are very rusty ... I am a hardware engineer by trade that specializes in FPGA based systems on a chip .
It seems like one of the stumbling blocks that prevents Pin2K from running in QEMU w/o any headaches is the way the MediaGX processor drives graphics. There's a "legacy" mode where the graphics system looks like an ordinary VGA device. There's also a mode where a ton of 2D acceleration features typically used by GUI based OSes are used to draw stuff.
If (big if) the two Pin2K games operate solely in "legacy" VGA mode, it shouldn't take much to get one of the games at least *running* using QEMU. You'd have to map the features needed in the southbridge device (CX5220) to virtual devices in QEMU. If Pin2K only uses legacy VGA mode, you should be able to use the existing virtual VGA devices. If it doesn't, then I guess you need to code up the whole CX5220 device . I suspect they only use legacy VGA as everything seems to be pre-rendered in Pin2K games.
Anyway, the PRISIM card uses a PLX device so that the card is seen as a PCI slave device in the system. Dumping the PLX config EEPROM should shed some light on what the system views it as (actually, there should be a Linux version that supports the MediaGX processor out there ... you could probably use that to dump the PCI info about the PRISIM card).
It seems like all of the game code is on the PRISIM card ... I guess the system looks at the PRISIM card as a storage device and transfers what it needs to DRAM on bootup. IF standard VGA is used and IF you can map the program data as a storage device, a pin 2K game should at least boot in QEMU without many headaches and some hacking around. I don't think Pin2K's BIOS is anything out of the ordinary.
Beyond that, virtually all of the sound system on the PRISIM card is pretty much identical to arcade games of the day. In fact, a bulk of the code you'd need is already available in MAME. MAME already emulates the DSP and the custom Midway ASIC that handles various decoding and DRAM control.
Also, it looks like the system uses an Altera PLD to manage the shuffling of messages from the CPU to the sound system on the PRISIM card (message FIFO status seems to be passed to the CPU via interrupts). This would have to be added to whatever is needed to emulate the PRISIM device.
If that somehow works , then you just need to virtualize a parallel port ... it's just that easy (sarcasm implied).
Anyway, if someone that knows QEMU fairly well can chime in and give me some feedback, I will be more than happy to look into this a bit more if anything I typed makes any sense. I'd just be interested in getting the system to boot at first (i.e. no audio stuff just yet).