I'd worked on a Hagane run before and kind of moved on to other things, but I decided to get back to work on it.
I managed to beat Tiger's run of 1-1 by 2 frames, and managed to do it in style. This game was made for a TAS. It's super hard and there's about a hundred different moves you can do so you can be stylish as you kill tons of bad guys who come at you from every direction at once. So naturally, I experimented with lots of cool tricks, and still managed to beat it as optimally as I was able to determine.
Due to one minor optimization, plus analyzing the boss HP on the RAM map, and then testing the various attacks and the amounts of damage they do to him, I managed to save 228 frames over Tiger's run in 1-2.
That's as far as I've gotten. You can watch the SMV here:
http://www.heisanevilgenius.com/Heisanevilgenius_Hagane-WIP.smv