Emulated arcade version of Bubble Bobble by Hamster Corporation; like other entries in their Arcade Archives series--and the ACA NEOGEO subseries--the emulation is solid, and offers the options you would like to have, for the most part (no volume control, that used to be a pet peeve of mine : P). You can set various game options, or play the "HI SCORE MODE" with default options to compete on the global leaderboard.
It's been ages since I played the actual arcade version...if I ever did? hmm...so I can't say precisely how close this one is--I expect it probably has a frame or two of additional input lag, like their ACA NEOGEO games do--but Bubble Bobble is a rad game and this is a lot of fun. It got me looking up FAQs as to how the items and so forth work, and man this game is crazy: just about every action you take--from starting a game to jumping to popping each separate type of bubble--adds to its own hidden counter that the game tracks, and once each of those counters hits its completion number, a different type of special item appears; some of these can even stack, where collecting x number of a certain item spawns a certain other item. The effect is that there is always cool stuff happening at often unexpected times, in a way that makes the game feel limitless and different every time. Go Bubble Bobble!