I was intrigued by this, and not only in SH-3 boards. I started by checking out the ESP.RA.DE. and Guwange boards, and after identifying the Yamaha chips, including the DAC and Opamps they indeed supports stereo audio, they even have the lines wired.
However, the audio is not stereo. Emulators report it as stereo and the chips support stereo, but after recording both channels and comparing them it results they are identical, at least from MAME. This includes SH-3 and 68000 based hardware. I didn't want to take out the soldering iron and risk damage to the boards without knowing it the stereo signal would be indeed stereo or just dual mono.
I trust the results since MAME emulates the sound chips, and the chip outputs a single bitstream that alternates between channels digitally, which the DAC later converts to dual analog.