Will the version present on the new Konami Collection be allowed for submission on the boards? Just now picking the game up. I'll eventually get a SGB2 and this cart, but for now I'm okay with emulating it if I HAVE to. I haven't seen anything wrong with the version on the collection though.

Yes they are allowed here and shouldn't be a problem for the other games too. We noticed they have slightly less lag, but that isn't a significant difference to warrant a category separation yet. You can submit your runs as GB (emu) for the game. Apparently they plan on releasing the JP versions in a future update as well.