GigaDrive:
Dreamcast Virtua Fighter 3 looks about 60 to 70 percent of the Model 3 original overall, at least to my eyes. nowhere near exact, just decent, and missing a noticable amount of polygons and i think some effects too.
I would agree that VF4E on PS2 is as close to VF4E NAOMI 2 arcade, as DC VF3 is to Model 3 VF3.
I believe Genki revealed that the characters in the DC version of VF3tb actually have more polygons than the arcade (though, the comparison is obscured due to the triangles versus rectangles factor) but weren't modeled as well, so areas like joints tended to look noticeably rougher than they had to. Differences between the platforms that a developer doesn't have time to work around can be the cause of this for a conversion, like when the Tony Hawk models couldn't be properly updated for its DC port because the old interger code from the PSone version was still being used.
The Model 3 version has some effects done better, seen in places like the lighted construction elevator stage for Jacky and the misty snow pond of Aoi. However, the DC version, although rushed and glitchy, does some effects better too and renders the game at a higher resolution. Overall, while the arcade version is way more polished, they'll supposedly pretty comparable from a technical standpoint.
VF4 for PS2 was basically halved in a lot of ways from the arcade original, but the care and polish AM2 gave to handle it themselves shows how well that can compensate for technical disparity.