Yo but that bleeding cowboys in old Last Burning tho
One thing I like to try and do is match layer styles for the text to that of the elements in the background image. For instance if the image features lots of outlines or other cartoonish styles and is overall pretty busy then I'd say strokes, drop shadows, gradients and the like are fair game. Typically I make the outermost stroke the same color as the darkest major color in the image:
If the image is a photograph, digital painting, or something abstract which features minimal outlines or glows, then solid colors or minor blending options (usually a soft, low opacity drop shadow or outer glow) will match that better:
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Another thing I've learned over time is that it's almost always a good idea to keep the blending options consistent between the title and artist text. If the title has a solid outline or drop shadow, the artist text should follow similarly.
Graphics are largely a case-by-case basis, so there are plenty of exceptions to what I've said, but I find myself following these guidelines consistently whenever I'm trying to pick out what text effects to go with and it works out a good percentage of the time.