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Any older (PS2 or before) shmups with RPG mechanics?
(hexbear.net)
Tabletop, DnD, board games, and minecraft. Also Animal Crossing.
3rd International Volunteer Brigade (Hexbear gaming discord)
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A bunch have currency acquisition which you use to get weapons, etc. It ends up beign RPG-ish since you're effectively investing in a build from ernemy-harvest resources. Games like Lords Of Thunder, Space Fantasy Zone, Magical Chase. Also a bunch of overhead walk-'n-shoots set in medieval fantasy lands that operate like vertical shmups with RPG-ish mechanics like Undead Line, Gain Ground, etc.
Ginga Force on 360/PC has a pretty extensive weapons shop/customization to get parts between stages.
Any specific older ones you like most? Again, gotta be on ps2 or earlier, since these are going on a handheld emulator
Lords Of Thunder and Magical Chase, probably. And Gain Ground has a PS2 remake with a great soundtrack.