If I understand the issue.. as funny as it sounds.. if you have some warbling or waving of the audio pitch, try disabling one of your CPU cores via the "Set Affinity" option in the task manager for the process. Uncheck one of them and it should improve performance and quality dramatically.
For what it's worth on certain dual core machines (including the ATHLON64 X2 one I run), MAME-based emulators using sources before 0.107 all have this problem.