I have a model 1 Sega CD and a copy of Lunar, so I'm good to go.
Have you heard about the "Unworked Design" game edits? :
https://www.romhacking.net/forum/index.php?topic=23436.0
I've been trying to burn and get working the version of Lunar which reverts shit back to how it was before getting tweaked (read: facked) by western localization, but so far, I'm having issues. Seems like from the romhackers chagelist, Lunar was the least fucked with localization, so would you recommend jsut playing the default experience, or should I get that version working?