well i think the FAQ section just answered my question...
Can anyone verify that i am reading this correctly???
2. Power: Once again, unlike Jamma, the NAOMI itself requires an extra voltage: +3.3v. But rather than having to get a new power supply, the Capcom I/O handles that for you, by taking the voltages from the Jamma harness, and converting them to supply the NAOMI, not only with the +5v & +12v, but with the needed +3.3v as well.