Here is the latest version of the FBANext PS3 emualtor. It is r470 and comes with neo geo driver performance improvements. As most of these releases are only minor updates as they are to help improve the emulators only. For the 32bit color of the emulator, the function points for the sprite and text layer rendering are not necessary. Thus, the switches can be avoided. These improvements are being worked on for multiMAN as well. Thus, be patient, they are working hard on it.

FBANext PS3 r470:

(PS3) Neo Geo driver performance improvements – nBurnBpp is always 4 for PS3
(32bit color) – so the function pointers for sprite
and text layer rendering are not necessary and the switches can be avoided