The Flash seems like a great candidate for a speed run. This particular version was only made for SMS, but it was done in 1993 and seems to have only been released in Europe. It has relatively good graphics and so far no lag. There is practically no info on it on the interwebs, aside from a cheat code ^>v<v>^ which grants a level select and invincibility. This cheat was useful as this game is pretty confusing and somewhat mazelike.
Here's a WIP of the first level.
It unfortunately suffers from strange problems in dega. For example, there are item boxes that can be opened. But, if you save a state, open a box, then load the state from before the box was opened, the box will remain open (even though it's graphics sometimes look like it's closed). Nothing insurmountable, but it is annoying.
I think this would be a great run for anyone who wants to do an SMS game that looks nice and is really fast.