TGM and TAP use the JAMMA wiring standard, so you'd be able to use a simple wiring adapter between JAMMA and the slightly modified MVS pinout.
Video uses composite sync, so you could use a sync stripper to get vsync.
Emulation accuracy... not sure. There shouldn't be any lag frames or things of that sort once you get to playing the game, but who knows about screen transitions and so on. As mentioned, MAME runs TAP at the wrong frame rate, so you kind of have to hope that doesn't screw with any (hypothetical) lag frames and that you can still just play back the same inputs. colour_thief said it seems like the PCB might take longer to boot than in MAME, so then you also have the question of whether it would be fine to just add a fixed timing offset or if it's going to utterly hose sync with the RNG.
EDIT:
<colour_thief> Btw kitaru I didn't say it "seems" like PCB is slower at booting
<colour_thief> I was a little more scientific, I went into test mode and counted the frames between leaving test mode and seeing the ready
<colour_thief> I filed a bug report on mametesters
<colour_thief> This was years ago