I've spent some time reading this thread and both sides have some interesting points. I realize my words weighs like air in here as it's my first post but bear with me.
First, people will have to stop comparing this with beating world records in athletic events. It's not the same by a long shot. Instead, think of it as stealing someones plans for an invention, adding some small detail and distributing it under a completely different name without acknowledging the original author. As you all know the mechanics behind a TAS, you all know how relatively simple it is to improve a run that has some obvious flaw if you only put enough time into it. As I am a regular visitor at Bisqwit's (even though not actively writing in the forums), I have noticed the regular jargon is "The faster the better" (with the exception of DD2, as made clear earlier). If we on the other hand only consider the entertainment value, both movies will do and it's really only up to personal taste (most notably the wobbling).
While I sympathize with both players, it is my opinion that the natural movie for publishing would be Phil's (not only to avoid a thread like this popping up in every other new submission for a release candidate), even though I don't at all agree with his way of publishing a TAS of a game he haven't helped perfecting (in routing and glitchfinding) without acknowledging either one of the previous authors (especially sleepz but also Genisto).
My final point is this: In the end, it's up to Bisqwit to decide which one gets published. If it ends up in favor of Phil, just make sure sleepz gets the credit and acknowledgement he deserves.
