Bug: Thunder Force V - Player ship is slow/coloured wrong

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What steps will reproduce the problem?
1. Run from SD, Dynarec, Frame Skip on, Frame Limiter on
2. BIOS to SD (has no effect either setting)
3. Run the game

What is the expected output? What do you see instead?
The player ship should be coloured blue and should be able to move quite fast 
when at 100% speed. However, it's horribly slow. And it isn't the framerate, 
thanks to Frameskip it runs full 60 FPS.
Here is a YouTube video of the game, the player uses 100% speed for the ship: 
http://www.youtube.com/watch?v=XG-t8EqVeR4
It clearly shows the player ship moving a hell of a lot faster than it does in 
WiiSX, and it shows that it is coloured distinctly blue.

What version of CubeSX or WiiSX are you using? On what console?
Beta 2

Are you using HLE BIOS or a real BIOS (SCPH1001, etc)?
I tried both, had the same effect.

Which core type is being used, Dynamic Recompiler or Interpreter?
Dynarec

Please provide any additional information below.
Besides these issue the game runs fine, movies work, sound works, speed is fine 
providing I use the Dynarec and Frameskip otherwise it's off by about 10 FPS 
and 15 in the menu.

Original issue reported on code.google.com by bpze@outlook.com on 11 Jul 2010 at 9:26

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Fixed in Beta 2.1, though I'm having some trouble getting it up to reasonable 
speed now. The Frame Limiter and Frame Skip on with Dynarec seems to have it 
run so badly it either buggers the program or plays in such a way that I can't 
dodge bullets.

Original comment by bpze@outlook.com on 3 Aug 2010 at 7:41

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A further addendum - the ship colouring is as its meant to, I didn't know you 
could change the ship type by pressing different buttons at the stage select 
screen. That said, the performance issues are still existant and hopefully 
should be fixed in next release going by the progress reports on WiiSX. :)

Original comment by bpze@outlook.com on 31 Aug 2011 at 12:09