What makes the game hard to emulate? As you know, the game consists of static 2D backgrounds with 3D models moving over. Later necessary functionality was added to glide wrapper, so you can run the game on any modern PC card.
Abilities of 3dfx graphics card allowed me to obtain pretty good result: the game was fully playable on Voodoo4/5 with some minor glitches. I spent lots of time on this game when I worked on Glide64 plugin. While the game uses standard ucode (or slight modification of standard one), it uses few non-standard tricks, which are hard to reproduce on PC hardware. Resident Evil 2 for Nintendo 64 is hard to emulate game.