There's something pretty wrong with those newer versions of Raine. In the 1st version that could run Armed Police Batrider, it worked with my 32Mb P233 without problem, I just needed to turn off sound, and I got an acceptable rate of 35/60 frames
Now in those newer versions, it just refuses to run. And If I'm not mistaken, Cave and Psikyo shmups were running faster in Mame..
About R-Type Leo, unfortunately it runs too slow in my machine, so I can't rate it. I prefer vertical shmups to horizontal ones, but a horizontal one that I really LOVE (and it's not R-Type) , is Space Manbow in MSX.