I can't see KFM2 being properly emulated unless another boardset magically appears and someone dumps that MCU.
Vigilante did make more sense as a follow-up.
I remember Kung Fu Master from a 1990 Holiday at Pontins, Devon, where we pretty-much spent the entire holiday in the arcades playing Golden Axe, Pacland, Trojan and Kung Fu Master.
It's one of those games that you just want to play when you watch it, but it is bastard hard. Reminds me, I've got a bootleg somewhere I must fix.