I meant in doing a fast-as-possible run.
It took me all of yesterday to do chill penguin(the boss alone), then today I wanted to try out another method which took another day. The latter version ended up being faster, but not nearly as much as I had thought it would. Each movie file has the same path up to chill penguin, and both get through chill penguin(including the intro) about 13.5 seconds faster than the current movie.
Saying chill penguin is a pain to fight is an understatement, and I know that someone like launch octopus will be even tougher. Chill penguin will be a bit easier the second time around since there will really be no strategy involved: as long as I can hit him, I'll be doing the maximum amount of damage.
Anyway, in the first run I was just hitting him as fast as possible, just as long as he didn't go invulnerable. I found with dashing pellets you can hit him once every 67 frames or so, and so you can do 6 damage in 201 frames. With a charged shot I forget what it was, but you can hit him every 105 frames or so: you could do 6 damage in 210ish frames. So I opted for the uncharged pellets most of the time.
However, I realized that if you could shoot an uncharged pellet from across the screen so that it hit him at the end of his recovery, you'd be charging sooner, so you could rush in, and hit him with a charged shot with very little delay between his invincibility and the next hit. I tried to do this as much as possible in the first run. Once this was completed however, I did a second run in which this was pretty much only used, which sometimes forced me to allow him to be vulnerable for a frame or two to affect his AI. Basically, I couldn't let him use his ice breath(at least in my direction) because it'd prevent me from getting close, and obviously he couldn't slide. The end result looks good, except the very beginning of the fight I need to delay shooting him for a moment because I just couldn't get him to use something other than his ice breath or slide at first, so I made him use his ice breath into the wall. For this reason I'm not overly content with it, but I think it's mighty close to as good as it can be.
First:
http://www.thezorz.com/agile/penguin_old_megamanx.smv
Second:
http://www.thezorz.com/agile/~megamanx.smv