Xipo: Are you certain that using two characters is faster than using one? I compared this run to a WIP I made some time ago, and you lose at at least 24 frames because of lag on level 1 alone.
Besides the fact that there is lots of lag, this run can be significantly improved if you keep moving while you're charging up to the animal form, which I showed Cardboard in the discussion thread in the NES section. For comparison, my WIP of level 1 is 240 frames faster after the first level, mainly because of this trick, so I'm guessing at least 10-15 seconds can be shaved off thanks to this trick.
Here's the movie showing this trick
Sorry, but I'm gonna have to vote no, because it can be improved by a lot. :(