Figured it out, If anyone has any issues with error. It ended up being my the USB cable to the IO. I changed to a newer one it worked fine.It seems like this isn't compatible with Virtua strikers 2000 on Naomi. I keep getting no IO error. I tried steps to disable JVS data signal level adjustment but no luck.
How would I go about powering this and a netboot setup? I have this wired up to cn12 for power, would I need to split it to power up a pi?