I've seen Metal Slug 3 in an arcade around here, but they were asking too much to play it, so I just took a look
It seems like there are lots of stages where you are FLYING, making the game even closer to a shoot'em up. I am not sure if that's good at all.
If I am not mistaken, Metal Slug 3 is being emulated by Neo-Rage (as KoF 2K also is), I really don't care much about "recent games" emulation, so I am not sure. Make a search.