So, I've been messing around a bit with M88 [M88_221a] and I've noticed that the sound is terrible, at least with my setup. But it's also the only emulator I can record with FRAPS, so I'm hoping there's some way to fix it.
Specific examples are, Dragon Slayer, only the lower-pitched notes are actually audible, the rest are just crackles, and in Door Door, the little tune that plays as you walk around sounds terrible on M88 compared to X88.
I'll edit this post with screenshots of my settings in a moment.
EDIT
EDIT: Well, it's definitely just the emulated PC Speaker sound, Romancia's theme song sounds fine.
EDIT^2: Well, checking all of the options on the lower-right of the Sound tab fixed it. After a little testing, only the one that ends with (P) and the waveOut API one seemed to actually help.