This submission is a 23 frame improvement over the currently published TAS: https://tasvideos.org/2792M
This game has interesting routing quirks. Certain level patterns lock out certain other level patterns, leading to losing a few frames in some levels to guarantee a good pattern in other levels. Though it looks like I'm bleeding frames out of stage 1 vs the current TAS, it is necessary to use a slightly slower level 1 to obtain a faster level 2 which is the bulk of the timesave. There were other minor optimizations through beginning stages sooner. I ran through various permutations and couldn't find a faster path.
Technically there is actually a faster path through the game but it is not viable in a TAS due to time beginning at power on. It involves starting on a different level which is a free menu in RTA timing.
I opted not to use the eye-straining display glitch for ease of viewing and "enjoyment."

Samsara: Hey, hi, hello there! I've replaced the submission file with a version truncated to the last input, for better comparison with the published run. Oh, also, judging!

feos: Claiming for judging.
feos: This movie is 22 frames shorter than the previous, but if you only count pure gameplay it's 24 frames: some frames seem to be spent on RNG manipulation between the first 2 levels, and the fade-out itself has slightly different timing. All in all, accepting over [2792] NES The Great Waldo Search by MESHUGGAH in 00:51.83.
fsvgm777: Processing. despoa is handling the encodes for this one.