If you actually play one of these things long enough to get good at it there is a special feeling of "ass kick" that is different from any other game. Road Prosecutor is one of the very few LD games where the gameplay makes consistent sense, but fun can be had with Dragon's Lair, Space Ace, etc.
It takes so long and so much money to get good at it in the arcade that the LD player is likely to break first. I didn't master Space Ace until the CDi version came out. I didn't get good at Dragon's Lair until the DSi version was released a couple of years ago.
A PCE version could look semi-decent, but I'm not sure how bad the lag would be for loading death scenes. This was a problem with early CDROM versions of LD games. Maybe the Arcade Card could cache them while the main scene streams?
A friend of mine brought over a SNES flash cart that had a special chipset in it for which a SNES version of Road Prosecutor had been made. It was shockingly decent. It would be cool to see a PCE version of something like this.