I've been playing through this a bit again and I think despite it being kinda slow and linear to a degree, it has potential for a good TAS. The Ninja is fast as heck and has awesome weapons [but the Priestess has a bug that could make her INVINCIBLE!!], you can skip a lot of storyline crap by simply ignoring things, and there's apparently a way to spam with Herbs so you could take a 255hp hit with only 40hp and the Herbs will kick in within a manner to save your booty.
Not to mention the wicked throwback abuse you can use with enemies as the Ninja. [Some decent distance to be thrown back in a lot of cases]
An Arcade [read Taito Legends disc] speedrun is found starting here;
http://www.youtube.com/watch?v=zSnrBgdAFQo
and a PCE Long Play is seen here;
http://www.youtube.com/watch?v=r01gcvFRKLc
As well, you can control 2 characters at once, but speed difference may kill entertainment.
I hope someone might think this a worthy title for a TAS.
Mr. Kelly R. Flewin