I've tried a few development builds over the course of a couple weeks, including the newest one which brings support for ubershaders, and Project M has had the same issues on all of them. Using Gecko to load the game (specifically the PMNetplayv3.elf that comes with the current netplay build), mostly everything works. However, the Z button does nothing regardless of how it's mapped, throwing an opponent kills them instantly, and custom music doesn't load correctly (it plays as if the SD Card was removed on a real Wii). Here's a video showcasing the problems (VOLUME WARNING) :
http://www.youtube.com/watch?v=B05G90bfoJk
and my specs, if they matter in this situation:
Intel i5-7200U
Nvidia 940MX
8 GB RAM
Windows 10 Home x64
Dolphin build 5.0-4869
http://www.youtube.com/watch?v=B05G90bfoJk
and my specs, if they matter in this situation:
Intel i5-7200U
Nvidia 940MX
8 GB RAM
Windows 10 Home x64
Dolphin build 5.0-4869