Yeah, arcade type shooters are great. I haven't played any of the newer ones like Dodonpachi Dai-Ou-Jou, though.. the most recent shooter I've played is Ikaruga.
Besides that, I've mostly played older shooters, such as the Gradius series, Thunder Cross series, R-Type series, Salamander series, Parodius series, Aero Fighters series, Trigon, XEXEX, Raiden, Gaiares and Zero Wing. There might have been others, but I can't remember at the moment.
One of my good favorites would have to be Gradius III. Arcade version is pretty challenging, unlike the Super NES version. Most of the useful weapons that were in the SNES version are gone in the arcade, such as the Revolving Option and the Hawk Wind missles.. but still great nonetheless.
Among one of my favorites would have to be the Thunder Cross series. Good challenge, but doesn't take long to beat with some persistence.
And then there's R-Type Leo. Another of my top favorites, albeit pretty tough, especially the final levels. Gets very insane there moreso than the earlier levels.
But yeah.. it's a shame those arcades didn't make it here...