Hi all,
I'm the one doing the Minimum Steps challenge. ( I'm also the one who did the single-segment run currently posted at SDA:
http://speeddemosarchive.com/FinalFantasy.html )
Axe's post at GameFAQs has redirected me here, so I thought I'd say hello. He also pointed out some things that I should have done had I been more familiar with the TAS side of this game (all the various strange places where there are encounter-free tiles, in particular). Unfortunately it's too late for me to use that knowledge now. The only segment that remains is the Temple of Fiends (which is without doubt the worst one).
I've taken a quick look around the rest of this (rather huge) thread just for fun, and there's quite a bit of interesting stuff that's been said. Perhaps the most important detail that I didn't know is that BANE and such really have 3/256 -- and not 1/201 -- of working due to the RNG's biased table.
If you guys like RNG manipulation (hmm, something tells me you do :-)), you'll particularly love part 18 of the Min Steps:
http://www.youtube.com/watch?v=xSE5HUu8flw
Remember that that's done without saved states. The way I see it, it's very possible that the best chance for a lowish level WM to defeat Chaos is to get into such a "loop". TAS considerations notwithstanding.
Aaaanyway. Be sure to take a look at the videos. That number of views has gotta go UP!