There's also Space Megaforce, which is better crafted than several other compile titles like gunhed ( blazing lasers) or musha.
Space Megaforce is good, no argument there, but it isn't exactly a "budget" title.
At the end of the day, emulation, as you recommended, should be OPs best bet when it comes to trying good shmups; there's no doubt about it. After giving whatever game a try, one can always hunt for the physical copy to cure that itch.