Aeroblasters Turbo/PCE's graphics are actually completely redrawn with and the music is remixed with a bunch of changes and a whole new track and the gameplay is altered.
Yeah, once I read your correction I realized the different music - especially on the mechanized level (level 2 I think). The TG 16 music is actually much better IMHO. I was hasty to say identical, but it's just been soooo long since I've played the TG 16 version that the MAME version seemed like it was identical. 
Thanks for bringing me back to reality. 
Ha! That's pretty neat, I didn't know that. Who here would like to document a thorough 2-way (or 3-way!) comparison between the games. Black_Tiger? 
I'll do a thorough comparison of all three some day. Basically, the Genesis port was very well done and is super faithful to the arcade. The arcade uses a different pallete and may have extra colors and/or shading, but for the most part they look the same. The turbo has a bunch of smaller sprites and everything is redrawn, but still looks very similar.
Some of the bg layers are rearranged in the Turbo version to accomodate the kinds of parallax that the developer could do. In a couple spots it looks nicer overall(
no ridiculous country sized towers in the middle of a city-sized city), but the other two versions have more seperate scrolling that is used well and usually looks better than the less detailed flat areas of the Turbo version. The arcade has an extra foreground layer over the Genesis version in some spots.
I believe that the arcade has a bunch of extra animation sprinkled through out.
The arcade uses way more sampled sfx and its FM music, while closer to the Genesis music than Turbo, is still a little different and emphasizes different instruments in some tracks which makes it cool in its own way. Some small touches to the music are shared in the arcade and Turbo soundtracks that are missing or different than in the Genesis soundtrack. I still prefer the Turbo tunes, but all three are great. The Turbo version has a nice bgm for stage two, but the other two only have an ambient bgm that is barely even music(
still suits the level).
The arcade slows down in some spots.
The Turbo version's speed tunnels have solid black back bgs with plain mid/fore-grounds. The other two have much nicer bg grafx. The Turbo version's tunnels are longer and more challenging and the music speeds up with/matches them.
The arcade intro has a cinema screen with the two planes getting ready to take off and the head-on red ship screen. The Turbo version has the head-on red ship screen plus a yellow ship screen and the unique ambient bgm(basically just a heartbeat). The turbo version also has a unique simple and brief ending. The arcade and Genesis use a different bgm around the title screen, but the Genesis version doesn't(?) have any intro cinemas.
The arcade doesn't have the trail of ships found in the home ports. The Genesis version uses a ton of ships in its trail.
The Genesis version has CD-ROM length load times(!) that feature an ugly pic of some anime characters in neon clothes.
After dying in the arcade and Genesis versions, you have to wait for your ship to float into place, pause and then you gain control. The Turbo versions gives you control right away. The Turbo version has some extra screen movement on the last stage. The 'lower gravity' in space is different between the Turbo and Genesis versions. Overall, the gameplay feels better in the Turbo version to me.
