The Konami Arcade Collection is gimped when compared to the individual releases. The Arcade Archives versions all have additional emulation options, as well as the ability to play either the English or Japanese version, plus online leaderboards.
Biggest example of this is Salamander/Life Force, with the AA release having all three versions of it and the Arcade Collection only having two (even after the patch).
Tinfoil hat time; my theory is Konami purposely crippled the Arcade Collection to be an inferior product so it didn't overshadow the original AA releases.