I haven't watched the vid yet so I don't know if you did it better or worse than this, but here's a vid of the mips trick by Bright. I think this is the fastest known strategy.
http://rapidshare.de/files/6750652/MIPS_Trick.wmv.html
Also, here's an Amazing Emergency Exit vid by Myles. I'm not if this is faster or slower than Lecoureur's strategy.
http://rapidshare.de/files/6750931/Myles___Amazeing_Emergency_Exit_-_13_Seconds.wmv.html
Btw, for the first 2 stars in Whomp's Fortress, have you tried doing a triple jump like Myles does instead of jumping in the tree? Also try hitting the fire in the basement on the way to LLL to make you run faster.
Edit: At the very end, maybe you can start running towards the big star before Bowser's message appears and then you'll have full speed already after the message.