I have used MAME 0.26 beta 10 (IIRC) on an Amiga 1200 with an 030 50Mhz, and I am afraid to say every game was unplayable, even the really old stuff.
Perhaps newer versions of MAME got faster (probably, but as you say, you would need to compile it yourself, and I guess disable most of the newer drivers) but I think it will still suck speed wise.
The reasons for this is because the Spectrum/NES emus you have tried are probably optimised assembler (or even C) for the Amiga. MAME is very portable, but the generic nature of the design means most of it cannot be effectively optimised for particular machines or emulated hardware, and probably wouldn't be anyway because of the "documentation" nature of the project.
You are better off trying to find dedicated arcade emulators for the miggy. Go ask in comp.sys.amiga.emulations (which (used to be??) emulators that run on the Amiga, not emulations of the Amiga).