There have been PLENTY of reports of the game crashing/stalling/resetting at many different points of the game.  To save time I will just list the different instances where the game have been reported to reset itself.  Each one of these has happened to me at least once.

• Occasionally while or during a fatality (?)
• Before or after watching a character's cinema ending (?)
• Occasionally at a start of a match (?)
• After picking Noob Saibot's third outfit (FIXED!) 

I have heard from one person, but not experienced myself yet, that Goro has been disappearing at times on their copy of MKG. Probably a glitch on that disc, I'll keep trying to repeat the bug myself though.

I've encountered a few occasional glitches where CPU gets stuck in place and can't move forward. Just hitting the computer will get them out of it, and I'm not totally certain but I think that the CPU's projectiles had no effect on me.

Another interesting bug, or "feature" that I came across in MKG is missing "victory" poses of the character you use to defeat the tournament mode. In the previous versions of MK4 you'd see the character holding a skull and a trophy. Now you just see the trophy and skull floating in the air and the MKG "Push Start" screen in place of the character's model. I have also noticed that when the CPU wins the Tournament it WILL show the proper character model instead of the logo screen, so this was obviously an overlooked glitch.

I have not encountered this myself because I haven't purchased the VMU yet but I hear you can save the game settings to the VMU, but any of the Kombat Theatre settings of endings you have opened will not be saved to the VMU. I'm pretty sure this is every copy of the game. 

Explanation: 
The box does not show support for the VMU and the manual states the following about the VMU:
"Mortal Kombat Gold does NOT support the VMU. Even though it is listed in the menu, it is NOT functional. Do NOT attempt to enable the VMU."

Version 2 VMU Note:
The saving of game settings to the VMU will save what cheat codes you have activated, along with all characters unlocked, but wont have the cheat menu open to toggle the settings.  So you have to open the menu again to toggle the cheats on/off.

Some places in the game there are some noticeable vertex problems.  Basically what happens is that one vertex of a player, object, etc. is in the wrong place so when a picture is textured mapped onto the object you will get a noticeable line across the screen when the object is present. The problem usually starts after you continue or beat the game and develops more once you play for a longer period of time.

My theory:
I believe this is due to a memory leak within the system. I think this because it usually only occurs after playing the same characters over and over a few times. The memory for that vertex or vertices are probably getting re-written by information of another vertex, causing the line caused by the texturing of the offset vertex. In the prison stage I saw one of Raiden's vertices pointing towards the overhead lights every time I froze him, thus leading to my theory.

It seems when you have the quick fatalities activated and quickly tap HP or LP when the words Finish Him/Her appear the game might accidentally execute the wrong fatality.  It's very tricky and might depend on other things that have occurred earlier in the game.  It seems to work with HP tapping starting before the word FINISH HIM comes up, and it'll usually perform Cage's torso rip as seen below.

Baraka at the end of Cage's Torso Rip Fatality.

Goro All Mixed Up Bug (FIXED!)

This very interesting bug was discovered by Mike33768@aol.com.  You'll get to see a very mixed up Goro composed of body parts from Johnny Cage, Sub-Zero, and frozen parts of other people.  

Here are the directions:

Sub-Zero Spineless Head (FIXED!)

To have Sub-Zero pull of just a head and no spine simply pick Sub-Zero's third outfit (the iced uniform) and execute his head rip fatality.  I have had other glitches like this one with this outfit while doing the fatality, like the game freezing when he grabbed the victim's head, huge block of what looked like ice around the decapitated head, etc. 

Thanks to Mike33768@aol.com

Sub-Zero holding Tanya's Head, but no Spine.

After performing the Prison Fan Fatality the blood stain from the character's head hitting the wall is gone, it appears that the camera is actually too close and the blood stain is probably behind the camera somewhere.  Like when you do Kitana's Kiss of Death Fatality the camera zooms back to show the blood stain floating in mid air right near where the camera probably was.  Almost all blood splats are NOT visible on the screen, and I have noticed many camera angles being incorrect from the arcade much of the time, accounting for this error.

When performing some Fatalities the game camera moves outside the walls of the level and blocks the viewing of the Fatality, usually until the camera angle changes again.