You can find out here.
One more update regarding playing laggy online matches using laggy monitor with a laggy emulator.
As shown above, final burn alpha has 2 more frames of input lag when playing offline on a lagless CRT.
2/60 = you are deprived of 3.33% of a second to react to any moves.
Stage time for ggpo final burn alpha turbo 2/1/0
turbo 2 (52.5 seconds)
turbo 1 (53.9 seconds)
turbo 0 (55.1 seconds)
With turbo speed set to turbo 1, the game is 2.67% slower overall. But it still does not feel as responsive as arcade.
With turbo speed set to turbo 0, the game is 4.95% slower overall, you have enough time to react but your input will still come out slower.
And that was for offline.
When online lag comes into play, you can see that playing at a slower turbo setting will be better.