Do your games work in Retroarch on its own outside of Launchbox ?
Also just a quick tip, you don't need to have a separate emulator entry for CPS 3, you can use the one install of Retroarch for a whole bunch of systems. Just setup each platform and command line in the Associated Platforms window.
Another tip, using -c to load a config is no longer necessary since you can easily set per core and per game over rides within Retroarch now.