In terms of sheer damage, it seems like the slow-zoomed punch (called slow zoom red hot one hundred), i think, is the most powerful. The voomerang, however, seems to have some deal where if it hits a single target multiple times it does more damage. I'd like to see if I can experiment with some memory-watching sometime and see if I can't nail down enemy HP and attack damage values.
I'm still getting used to dolphin and tas-ing in general, and have about no free time, so that .dtm is going to be coming in the vaguely near future.
A TAS involving captain blue could be really interesting because I think he's the character most likely to lead to sequence-skipping, but I'm personally starting with Joe on Adult.
With a fresh character, which upgrades/items are necessary? Red hot kick seems like a time saver, the upgrade that decreases vfx drain seems obvious. Can any necessary bombs/voomerangs be manipulated? I forget if enemies drop them or only some boxes.
edit: with a tas, it'd seem likely to me that rainbow v's are possible with a fresh character. the fastest path may even mean rainbow v's, but I doubt that.
I'm most looking forward to seeing how frame-perfect timing interacts with the vfx powers. If we're lucky, the system allows for lots of wacky hijinks.