I can confirm this does indeed work, great job on figuring this out.
Only thing I will add though is using your bat file it opened in windowed mode and had some extended black screens where it was hard to tell if things were loading or not. Everything did load though so it was fine. After modifying my bat file a little using yours as a guide I got mine to load in full screen and with loading bars while loading so it was obvious that it was still doing stuff. Here is my final bat file:
@echo off
daphne.exe %1 vldp -framefile\%1.txt -blend -ignore_aspect_ratio -blank_searches -precache -min_seek_delay 1000 -seek_frames_per_ms 20 -homedir H:\Emulation\Roms\Daphne -fastboot -bank 0 11011001 -bank 1 00100111 -nocrc -noissues -noserversend -sound_buffer 2048 -fullscreen -x 1600 -y 1200
Obviously the "H:\Emulation\Roms\Daphne" part would have to be edited to match the individual users Daphne folder location.
Edit: It seems that the -precache switch doesn't work for all games. It gives the nice loading bars but games like Cobra Command and Super Don Quix-ote do not like it at all and the games will not load with it.