I have been racking my brain trying to get this damn game to work on SSF, Yabause, and Satourne (Satourne is horrid so I quit using it all together). Yabause says it can't initialize and SSF just sits at a black screen. I use Daemon Tools to mount for SSF. I have BIOS files but everytime I use them all I get is the CD player screen. I can get various other games to work on both emulators but Shining Force 3 is eluding me!
Ah, the reason I joined the Romulation forum. My problem was a bad ISO I think, it was a long time ago..... Try downloading another ISO from a different site to test it.
Trying to find another ISO but all I can find are what seem to be the same file with bin and cue's in a RAR. :/
Sometimes it is an emulator issue. you might have to go to the sites official webpage to get the latest download. Some rom sites have older versions and some emulators are dead. Yabause is currently at 9.13 version, and as for compatibility its playable but has issues.
I had the same problem, until I tried the European version at removed. The Shining Force 3 Translation Project also has a great guide if you still have problems.