CLOSE PROX ACR-MLG ACR-MDT IN OR NEAR N90 TCA.

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ON APCH TO RWY 22L AT EWR. PASSING APPROX 1800' MSL ON G/S I SPOTTED FLASHING LIGHTS AHEAD; SLIGHTLY LEFT OF THE NOSE AND SLIGHTLY LOWER THAN OUR ACFT. AS IT MOVED ACROSS OUR FLT PATH; I COULD THEN SEE AND REALIZED IT WAS ANOTHER ACFT. AS IT MOVED TO THE RIGHT IT LOOKED LIKE A TWIN TURBOPROP. I SUSPECT IT WAS AN MLG OR SOMETHING SIMILAR DUE TO THE SHAPE; SIZE; SPD AND SMOKE TRAIL FROM THE ENGS. I DID NOT NEED TO TAKE EVASIVE ACTION TO AVOID HITTING THE ACFT. WHEN I SPOTTED THE ACFT I CALLED IT TO THE F/O'S ATTN AND ASKED THAT HE QUESTION THE TWR. TWR REPLIED; 'OH; YES; I SEE IT. 1-2 O'CLOCK; LESS THAN A MI; ALT 1600 OR 1700' CLBING.' AT THE GATE WHILE PAX WERE DEPLANING; 1 PAX EVEN COMMENTED. HE ASKED IF I HAD SEEN THE ACFT THAT DEPARTED TETERBORO ARPT. I CALLED EWR TWR BY PHONE. HE WAS UNAWARE OF THE ACFT UNTIL WE CALLED IT. HE SAID TEB WAS RUNNING 1 TO 1-1/2 HR GND DELAYS AND SUSPECTED THIS ACFT ELECTED TO CANCEL AND DEPART VFR. THEY ARE SUPPOSED TO STAY LOW OUT OF THE TCA UNTIL WELL W; THEN CLB. HE ESTIMATED THE ACFT ABOUT 7 OR SO MI S OF TEB PLACING IT WELL INTO THE TCA. I TRIED CALLING TEB TWR TO TALK WITH THEM BUT GOT NO ANSWER. I THEN PASSED ALL THE INFO ON TO OUR SYS CTL TO LOG THE INFO. I'M ALL FOR GOING VFR IF YOU CAN; BUT NOT TO CAUSE A HAZARD TO OTHER ACFT. ATC DELAYS IN CONGESTED AREAS ARE TRULY UNACCEPTABLE; TOO HIGH. THIS IS CAUSING FRUSTRATION TO THE POINT WHERE THIS ACFT SEEMS TO HAVE ATTEMPTED TO 'BEAT THE SYS.' I DIDN'T LIKE IT MUCH TO SAY THE LEAST.