Ah, I was going to ask, but I just figured someone would just put up a link to GameFAQs and tell me to find them myself :P
Also, is the maximum Lightning level 8?
Finally, I found these videos, which should be helpful (also an amazing watch, considering he plays on Hard and DOESN'T GET HIT):
Stage 1
Stage 2
Stage 3 With Boss insta-killage!
Stage 4
Stage 5
Stage 6
Stage 7
Stage 8
Oh, I also have to test out using turbo with the lightning some more. I'm pretty sure it never runs out if you turbo, but I'm not sure if it does half as much damage over any given period of time.
One thing I would like to do is whip up a comparison list. It would be easy to find out how many frames it takes to collect each of the upgrades. Then you could find out how long each boss takes with differing levels of lightning, and compare the two lists to get an optimal route. Only problem is, it would be no small task to test each boss with differing levels of lightning. Unless you found a memory address that you could change to adjust your lightning level, which, so far, I have yet to find.