With latest versions of Picodrive Virtua Fighter (32X) hangs after selecting characters.
Previous versions of Picodrive worked fine with the same rom.
It freezes for me too on Windows 7 64bit.
After selecting a character it shows the sky and stops there.
Have you tried selecting interpreter instead of dynarec on picodrive options? It solves lots of bugs.
Greetings.
With Dynamic Recompiler off, works ok. But a few versions of Picodrive back, the Dynamic Recompiler worked fine with Virtua Fighter.