Hello! This is my Chakan TAS that I said was discontinued but then found a workaround and managed to complete. Enjoy!
This is a 19852 frame (05:30.87) improvement over the previous submission due to a new glitch and several optimizations.

RAM Watches

AddressName
00FFC0E8X Speed
00FFC0EAY Speed
00FF515EEarth Boss HP
00FF5766Water Boss HP
00FF25A0Final Boss Phase 1 HP
00FF24A0Final Boss Phase 2 HP

Tricks/Glitches

Infinite Double Jump This is by far the highlight of the run. By attacking for one frame and then doing a jump while holding up, you are able to do another jump in the air. This helps skip large chunks of the game, especially the air stages. This glitch also works with the grapple since its the only other weapon in the game that allows you to perform a double jump.
New Speed Management Sometimes when you do a slide, your speed decreases slowly over time. By doing a lttle adjustments, I was able to get constant speed in a lot more places in the run. This can be seen in the first Earth Stage.

Closing Comments

This was quite relaxing to do. At first it seemed like it would be a drag to do since this game is 30 FPS. But once I tried it out for a bit, It got suprisingly enjoyable. It was also nice to take a short break from making the new Sonic 2 run since there arent so many things I have to worry about.
Also, Shoutouts to Wulf for finding the double jump glitch in the first place. Without his discovery, not nearly this much time could have been saved.
Suggested Screenshot:

sgrunt: Replaced with a 14 frame faster version at the request of the author.
klmz: Claimed.
sgrunt: Replaced with a 02:00.43 faster version at the request of the author.
feos: Next HD encode delivered.
klmz: The latest ZIP archive contains one extra folder and one more movie file inside the folder besides the top-leveled movie file. Will not judge until this gets clarified. See also the Submission Instructions.
sgrunt: Sorry, that was an error on my part in the replacement. Fixed.
klmz: Accepted as an improvement to the published movie.

Brandon: Publication underway.