I do poorly with prices, but if I didn't have an arcade card and didn't care about the case I'd be all over that. Yes, that should play all CD games with a region mod.
For clarity: That card should let you play every variant of CD game on any hardware that will read the card. CD games are region free, but that card will only work with Japanese hardware, unless you get a region mod (do this) or adapter (don't really know).
EDIT2: Beat by Necro by several hours. :oops:
WAIT, DISCLAIMER: Eh, I mean, every game you'd want to play. True 1.0 games will give you issues I guess, never tried. The number of games that applies to is stupidly low though and you probably don't care about them.