|David & Cédric Michel
MagicEngine-FX is a payware, closed-source PC-FX emulator, with a free 5 minute demo version available. Mednafen is recommended over this, as Mednafen is more accurate as well as being free (both in sense of libre and gratis). It's also outdated and hasn't been updated in awhile comparing to Mednafen and even Ootake.
Besides of being payware, this emulator is limited to only use physical discs. However, there is no known way to use with a Virtual Drive.