Well, I took a few hours to slog through this game (mostly in real time, except for some of the ludicrously hard bosses), and I'm wowed by just how awful it is. The house is extremely dull and tedious to navigate. The first-person areas are very annoying if you don't start the game knowing you can punch through walls. The warp zones are okay at first, but after the first few they almost always consist of an absurd number of enemies that will immediately come back after you kill them if you're not standing on top of their spawn point.
That said, I didn't really find anything useful to a TAS. I played around with the Super Jump, but unfortunately it can't replace the jump boots -- there are quite a few places where you have to jump out of water onto a high ledge, and the Super Jump can't manage that. You could probably use it to skip some of the hidden ladders, and maybe get into a couple of levels early, but I'm not sure what uses it has besides that.
All in all, the game is a very mindless and repetitive experience, and I'm not sure it'll make a good TAS since there doesn't seem to be any way to skip getting all the laser pieces. I can't really see a run of this being published unless a very big sequencer breaker comes up.
On the other hand, if you can stomach the entire game, it turns out that the ending is hilariously glitchy:
http://dehacked.2y.net/microstorage.php/info/312533105/whiteend.fcm
Alternate Ending #1: As he frees his brother Ginn from the evil Canbarian, Michael dies and gets a game over. He is then briefly resurrected on the front lawn before warping away and embracing his brother on the ramparts of a castle of glitchy blocks.
But personally, I prefer:
http://dehacked.2y.net/microstorage.php/info/1902145796/chaosendwhat.fcm
Alternate Ending #2: Michael again defeats Canbarian, but is taken out by his final attack while Ginn tries to give him a thumbs-up. They are then warped to a vast plain, where Ginn weeps as he drags his brother's lifeless corpse to him with his telekinetic powers. Then the LSD kicks in.
This is on the middle of the fourth floor, just to the left of James' room. I doubt it saves any time, but it might be worth taking a look at.
And since I watched (most of) the run: regardless of the whether the route is optimal or not, I'd have to give this a no vote. The game is so bad it's kind of amusing just for the sheer magnitude of the poor design decisions (walked down a perfectly innocuous flight of stairs? THEY'RE BROKEN, GAME OVER!) but doesn't make a good TAS.
I'm guessing this is the most fun some people have had since April Fools.