I do most of my gaming on a Retroid, which can run a lot of PS2 games well, as well as obviously earlier games. I really liked the GBA Macross game - you got to level up ship stats after each stage to make it more durable, or your weapons stronger, and shit like that.
What other shmups have similar mechanics? Dont care if theyre horizontal or vertical. I already have Radiant Silvergun's Saturn port loaded on my device, so inb4 that one.
Lords Of Thunder and Magical Chase, probably. And Gain Ground has a PS2 remake with a great soundtrack.
+1 for Lords of Thunder. That soundtrack slaps.