Breaking news! Or actually non-breaking news!
Just now I have managed to run 8088 MPH in an emulator for the first time, with all effects showing, and giving a reasonably accurate rendition of real hardware. The emulator is 86Box, and I have created a simple ZIP file here for you to try it. Everything should be pre-configured. Just wait for DOS to boot (can take a while), enter the date and time. Then type:
And you should be good to go. It’s not entirely perfect, the timing seems to go up and down a bit, the cycle-exact end-tune seems to play too fast. But it’s the best I’ve seen by far, and a lot better than nothing.