Sorry for the doublepost (seems awkward to add-edit to a post a day later with a new file).
I redid the first two levels this morning after the go-ahead from Bisqwit.
Notes:
Went the upper route at the beginning of first level, 4 frames saved
Rest of the level about the same as Gorling & co.'s run, but I didn't hit chucks and I got all 5 dragon coins
The slide at the beginning of the second level is actually faster, slide is just faster than walking (but still slower than running), helps build up acceleration, and kills shell-less koopa without jumping
Noted mistakes:
For some reason I'm 1 frame behind at start of 1st level - this might be a random factor
First level:
Check if I could land earlier after the rebound on the 4th jump
Could potentially get more coins at broken bridge segment
Second level:
Could have started sliding 1 frame earlier
On the annoying tall-pipes section, B jump for the 1st jump would have been faster I think... keep A jump for dismount
Could've hit one more koopa after 3 pirahnas
File:
http://www.pole-land.com/colonyl2/random/GWing_02%20-%20SMWTLC.smv
C&C please!