Oh, wow, I didn't think this would be another knuckle cracking post but...
*cracks knuckles*
Yes, 70's Robot Anime: Geppy-X is a real name and probably not even it's full title (as the title screen includes "Bio-Boosted Armour" as a subtitle). It's a Japanese only PS1 exclusive, but next month, it' going to get an HD worldwide release for modern systems. But it's a horizontal schmup themed after the classic Getter Robo franchise, where you pilot a transforming mech comprised of 3 interchangeable jets in order to battle a hoard of alien invaders. It goes full out with the aesthetic and even has an opening theme, ending theme, and commercials for toys (that, probably don't exits). It's a surprisingly long game, at 4 discs, filled with FMV anime cutscenes and dozens of levels that follow all of the major story beats of a classic mecha anime. Geppy has 3 forms with different attacks that can be charged up, and each form often has a unique interaction with the stage boss depending on who finishes it off. Geppy-X is also one of the few schmups besides Tyrian 2000 and UN Squadron to actuall have the courtesy to give you goddamn lifebar, so each shit Touhou. Speaking of...
@csanjuro already mentioned this, but goddamn it deserves to be mentioned again. Another schmup with a healthbar, Tyrian is a vertical schmup modelled after the classic Zanac with tons of extra modes and upgrades. There's armor, weapons, secret ships, extra difficulties, and of course, the datacubes. Certain enemies drop blue crystal cubes that contain lore about Tyrian's universe, including a travel agent that tries to sell you on vacationing to other planets, and messages from your cat complaining about the shitty food at home. The story is about an evil mining corporation that kills you friend, and you end up in the crosshairs trying to survive, but it's so far in the background it doesn't really matter. It's for free on GOG right now, so you have no excuse NOT to play it.
Doesn't have healthbar this time, but Progear by Capcom is an awesome steampunk horizontal schmup where you control a cadre of child soldiers to take down a sect of warmongering immortals. This game is hard as balls, but has a really articulate scoring system that sets it apart from anything in the genre. You have 2 playable main pilots and 3 sub-pilots, the combinations of which will alter your primary and secondary weapons. There's also a psuedo dating sim thing where the sub-pilots like you more the better you play, which can help you unlock the game's good ending. Each plane has a standard and rapid-fire mode which both alters your speed for percise movements/quick get aways, and by swapping between the two you cause all the items on screen to gravitate toward you plane and prevent you from having to swerve into the line of fire to get something. This is available on a number of Capcom arcade ports, including mobile titles, as well as the Capcom Arcade Stadium collections.
Giga
Wing is another Capcom schmup that's pretty dope and ended up becoming something of a franchise with GigaWing 2 on the Dreamcast and GigaWing Generations on the PS2 (though, I've mostly only played the 1st one). It's a vertical schmup with another steampunk setting live Progear, you control 1 of 4 different futuristic fighter jets with unique weapons where each pilot has a different story and multiple endings that encourage repeat playthroughs. There's also a co-op mode with it's own unique story. Another ball's hard one, don't expect to get to the end unless you can beat it without using a single continue, as you can reach the final stage without it. While GigaWing doesn't have health bar and is another 1-hit blunder schmup, it does have have system that will allow you to reflect enemy shots with proper timing. This is another game available on the Capcom Arcade Stadium.
The often forgotten sequel to Space Harriers, Planet Harriers is a fully 3D schmup that plays a lot like Starfox crossed with Forgotten Worlds. You play as one of 4 planet hopping mercenaries shooting down a host of aliens across space. In spite of their visual appeal, the characters are mostly minor variations with differing aesthetics. You can barrel roll to dodge attacks, and have a limited lock-on to destroy multiple enemies at once. Mid-level checkpoints are marked by shopkeeper who you can trade all or your money you earned for upgrades and power ups. Because the player character is a person and not a vehicle, they'll run along the surfaces of the ground, and they can even take cover in certain tunnels and alcoves. This one's pretty tricky to get running, and was considered a lost game for a time, but there's been a lot of work to port it specific Dreamcast emulators like DeMuL and Hikaru. Good Luck!
No one's posted Panzer Dragoon yet? For shame...
Especially now that Ymir makes Saturn emulation almost effortless, so you can practically play the whole series. Each game has you riding a flying dragon to blast down enemy vessels, and features a cerebral plot about a post-apocalyptic world ravaged by war. The first game is obviously the simplest, and garnered a remake for modern systems (that's only just kind of okay). The third one, SAGA, is where shit gets REAL, and actually features an number of explorable on-foot sections and is almost like an RPG. Orta (the Xbox exclusive) dials things back a bit, and feels more like a streamlined version of the second game, where your dragon can shift into multiple coloured modes that alter his attack patterns. It's a fully 3D schmup that tries to combine every possible viewpoint at once, forcing you to switch between multiple camera angles to prevent enemies from sneaking up behind you or escaping.
