Created by Dan Salvato (of Doki Doki Literature Club fame), this mod takes the v1.02 ISO and adds training features: flashing red on missed L-cancels, CPU DI randomization, and infinite shields.
Some characters lost unique "perks." For example, Samus lost a specific invincibility frame on her dash attack that existed in 1.00.
Dolphin is the only emulator you should consider. It is open-source, incredibly optimized, and runs Melee at 60 FPS on even modest laptops.