I have been having a similar issue. And I'm still trying to figure out what is going on.
I got a CD system, came with the Sherlock Holmes game. I had to by an AC adapter for the CD unit and I had to get a Super System card. I ended up getting the 2.0 card.
I get the PC screen to start up, and I hit RUN. The disc spins, but no game. It just sits on the system screen that says Please Wait.
I have verified that the CD unit works - i shipped it back to the seller and he showed me it working (with a 3.0 system card - showed bonk CD and castlevania CD - he has his system region modded too, i do not).
I guess I can deduce it's either that the Sherlock CD is damaged (but seller showed it playing), or it's not compatible with the 2.0 card, or the AC adapter may not be powerful enough to run the game (although, the (different) seller assures me it will run the CD system fully assembled).
Does anyone have any other ideas on what it might be?
Is there a list of which CD games work with which system cards?
Thanks.