If you are wanting to play it on HD-TVs or LCD monitors, you may want to look up the LCD Topgun by EMS. I'm a pretty big fan of it and it works well in MAME for the PCs and House of the Dead 3 on the Xbox.
The only issues I've ever had with the gun has been with some of Namco's shooters on the PS2. Aside from that its a nice little pick up with a pretty good recoil effect that you don't usually get in light guns. Don't expect Time Crisis level kick back though. Its still pretty cool none-the-less.