I think I'm on to something ...
So one thing I noticed was that when I ran from the command line , it DID run, but I didn't notice it wasn't picking up the config file. That led me down a path to see if that was a factor.
If I run WITHOUT the config file, games launch. If I run WITH the config file, they fail without so much as a peep even in verbose mode.
Config file attached.
ADCRetro_MAME.cfg