It supports practically all ROMs for any of those platforms, including the 32X, which doesn't require bios to work. It's more geared toward faithful emulation than speed, although thanks to the power of today's computers, any game from the aforementioned platforms should run perfectly at 60 FPS.
It can emulate the Master System (and its predecessors SG-1000 and SG-3000), Game Gear, Megadrive, Mega CD, and Sega 32X. Kega Fusion is a complete multiplatform emulator capable of running games made for the majority of classic SEGA consoles.