This game is almost unworthy of a speed run, due to the INSANE slowness of a rather weak hero character. Still, the game gets full marks for difficulty, so simply completing the game, at whatever speed, is a nice accomplishment for any gamer.
It would take a several pages to describe what's going on here, so instead of writing it out, I'll just point you towards GameFAQs, where I have a full guide posted on this game. It contains everything you need to know about the general strategy I used (though at the time of this run, I didn't know where to find the useful Blue Necklace).
Hope everyone enjoys this run for what it is. I made a ton of mistakes, but this game is too annoying for me to worry about perfection. It can definitely be done faster by someone daring (foolish) enough to master this game. :)