There's already a topic for this game
here (curiously, it was made by you), so no need for a new one. Locking this one (admins can merge it later).
As for the WIP, I'll take a look at it and you can find mine in the link I gave you.
EDIT: It seems that you can use select to be able to input the password a lot faster. After the password screen you were 297 frames ahead of me, but the difference at the black screen after the submarine part is only 223 frames, so my gameplay is 74 frames faster at that point.
Tips for optimizing:
* Kicking costs a frame. If you can avoid the enemy by any other means, do so
*Jumping off a ledge is a frame faster than just walking off of it
*The menus accept input very early
That's all I can think of now. Good luck on your run, I'm really looking forward to hearing more about this!
EDIT2: Also, your WIP desyncs after cutting the rope for the weight. EDIT3: Oh, that's explained. My bad.
EDIT4:
Here's my WIP, if Microstorage is really down (didn't check). Just copy&paste that to a text editor and save it as a fm2-file and it should work just fine.