Would it have to be in Wii U mode?
Yes. The Wii (and therefore vWii) has a paltry amount of ram, and even earlier versions of mame are huge sizes (certainly compared to most other emulators) - more recent versions of mame wouldn't even load on a Wii even if you tried! (And there's a few other obstacles to mention too, but the ram is reason enough)
If & when we see homebrew taking off in Wii U mode, perhaps we'll get a better version of mame than what's offered on the Wii. In the meantime OP, also try out RetroArch: that's got a Final Burn Alpha core, good for loads of arcade titles!
