Wohoo. After trying five different ROMs, messing with the controllers and sound settings, I found out what the problem was. When you said NTSC you didn't mean Japan NTSC (which the game auto-detected to in my case), but USA NTSC.
The explosions are glitchy in this ROM, so I suggest the next version to be done on one that works better. And that includes checking the end sequence, which has been glitched in every ROM of this game I've seen so far.
As for the movie: it was good in some places and less good in others. Comparing your level times to
http://www.geocities.co.jp/Playtown/7069/alisol.html , you bested some of the times but lost to many of them.
Seeing this, I'm convinced flame-flame-lancer-lancer is the way to go. There were few or no places where you benefited from having homing and buster, but some where you could have used extra flame and lancer ammo.