So basically, someone's pretty much combined the best of Future Pinball (the 3D-ness of it) and combined it with Visual PinMAME emulation. The physics so far are head and shoulders above basically every other single pinball emulator/app around, despite there needing to be some obvious tweaking. Looks fantastic as well, blows TPA out of the water IMO (just ignore the overuse of bloom in all the demonstration videos, I dial it right back to nothing).
Currently the following machines have been emulated/produced:
Dr. Dude
Black Knight 2000
Indiana Jones (WMS)
Scared Stiff
The Addams Family
Class of 1812
Check out videos and other stuff
here. I think it requires an already set up installation of Visual PinMAME with ROMs etc. (as long as you own all the machines you have ROMs for, yada yada). At any rate, it's good that the majority of the tables are also in TPA so you can compare them directly... and see just how far ahead of Farsight these guys are, despite only being in alpha!