You got just the same iussue of mine.
I tested he emu on 5 different machines, starting from and old but powerful P4 550 + 2 GB + X800XT-PE, to a pro machine Conroe E6700 + 2 GB + 1650PRO / 7900GS: sloooowly.
Teeken4 goes at max 25-35 fps in combat.
I've given up
I'm standing by the 1.0 emu version, maybe it'll go better...
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Pentium4 550 + 2 GB DDR400 + Radeon X800XTPlatinumEdition + 250 GB DiamondMax