http://little-scale.blogspot.com/2010/03/sega-music-competition-win-sega-master.html
Free VST’s to emulate the Megadrive/Master System:
For the FM emulation
For the PSG emulation
Thanks to herr_prof for the links. 
The winner for the competition is Rush Coil
The compilation contains the following tracks:
Blast Processing by Rush Coil
Empty Streets by TmEE
Ode to Megaman by Gregory Bolomey
Outer Limits by Turbo Crush
Love by Solyon (of course made with renoise)
Natsukashii Toshi by Rei Yano
Sonic Boss Medley by Patrick Wichrowski
Stars Are Calling by Shiru
Thought Collection by J&HT
Toads and Rabbits by Linde