I have this but haven't played it yet, but I'm looking forward to getting to it now since I have memories of playing this in the arcade. I just didn't realize it was the same game until I read your description and saw your pictures.
Should work especially well with my Nyko Perfect Shot gun shell.
I don't believe that this is expensive. Was a $10 game new barely a year ago when I bought it. Sega seemed to sadly overprint it, with the fans letting them down by not supporting this in the numbers they expected.
Of course if you think you'd only play it 2 or 3 times, I suppose it is too expensive.