First, you're using Raspberry Pi - it uses ARM as its architecture (hey, it's cheap). Normally, to use Lunar Magic, you would use Wine, except Wine is specific to x86 and x86-64 architectures (almost every Windows program uses those architectures).
So, to run Lunar Magic you will need x86 emulator (and either Windows or Linux with Wine installed on this emulator (yes, Linux in Linux - yo dawg)). QEMU is x86 emulator, but the problem is that's emulator - so it's rather slow. And you're already on slow computer, so you could expect Lunar Magic to be really slow. Either way, if you're going to use QEMU, I would use some low-weight desktop envirnoment (you need graphics to run Lunar Magic - console won't be enough), like Xfce or E17 (I wouldn't bother with GNOME or KDE on QEMU).
Next, you would want to test your ROM somehow (so you would need some bridge between Raspberry Pi and emulator running in it). You can either install emulator in emulator (yo dawg). I would use ZSNES here (you have x86 emulator, right - ZSNES is fast) or old version of Snes9x. Or you could install the emulator in Raspberry Pi and pipe it somehow (for example by using
Dropbox). ZSNES isn't option, as it is mainly written in x86 assembly, but older versions of Snes9x could work.
If you have such option, I would hack SMW on something else instead ;-).
By the way, I'm aware I'm actually recommending ZSNES here. Normally I wouldn't, but on such slow machine, I doubt that you could even use Snes9x 1.52 (fastest sort of accurate emulator). So, you could as well use ZSNES.