Ah, I gotta check the rest of this out. However, it's worth pointing out that Tafatt has demonstrated many possible improvements to Matty's techniques. A starting run was posted which escapes the arena 5 sec faster and reaches Bogard 10 sec faster.
This version of Matty's run is definitely much better than the first, it may be publishable. Who knows how long it will take to produce a truly high-quality run?
Edit: Ok, watched the rest of this. Your route planning is good, but your boss fights are poor. This doesn't have a huge effect on the actual completion time, but greatly improves the perceived quality. Boss fights are generally the highlight of any timeattack, they should be highly optimized. Check this out:
http://home.comcast.net/~f_amoroso/FinalFantasyAdventure-MattyXB-improved.vbm
I've sped up the final final boss fight by about 30 sec. It's really just a lot of little things, but mostly it's about being more aggressive and not limiting yourself to normal playing methods. In general, you have to advance the action frame-by-frame.
Once again, I have to thank Matty for finding all the improvements he did, but I still don't think this run is worth publishing. Better boss fights would really break the monotony of the long dungeons and outer world treks. In many spots the dialog isn't being scrolled nearly fast enough. Perhaps worth a meh just because of the classic quality of this game, but definitely not solid enough for a yes.