UPDATE: Looking for my latest experimental build? You can find it here - supports all games except Sega Rally 2.
Recently I've been taking an interest in Supermodel's network emulation, since it is still very much unfinished; some games do not work in linked mode, and those that do suffer greatly reduced performance compared to non-linked mode. Efforts to improve the netboard emulation have been largely fruitless, but during my efforts I observed how linked play in Daytona USA 2 and later Le Mans 24 worked: once the netboards had started up and completed self-testing, they pretty much ran by themselves sending and receiving data to/from one another.
It was at this point where I asked myself: couldn't I just replicate the same process directly within Supermodel? In other words, would simulating the netboard work?
The answer turned out to be a resounding yes! And it turned out to be much easier than I expected!
I have already got Daytona USA 2 and Le Mans 24 working with two machines linked together. Here's a screenshot of Le Mans 24 running in linked mode within my custom build of Supermodel:

One major advantage of simulating the netboard rather than emulating it properly is that the game can run at full speed. Also, multithreading now works fine which will further improve performance on less powerful systems. The disadvantage is that each game has to individually simulate the netboard in its own way, but since there are only nine unique games that actually utilize the netboard it shouldn't be too difficult to eventually get them all working.
To whet your appetites, I've uploaded a build of Supermodel that supports two machines linked together in Daytona USA 2 (both BOTE and PE) here; the link is valid for one week. If anyone would like, I can upload a separate build that supports two linked machines in Le Mans 24.
Please note that no other games will work in linked mode in this particular build, nor will Daytona 2 work with any more than two players. Also, the game can break if you enter and leave the service menu on one machine while the other is still running. This is an experimental build, so there may be other problems that I have yet to uncover; do not use this as a replacement for your existing version of Supermodel!