Your goals should be:
1: Most points (take the route that allows so.)
2: Fastest Time where it does not interfere with getting most points.
3: Most entertainment where it does not interfere with the above.
I would suggest you read all the discussion in this thread:
http://tasvideos.org/forum/viewtopic.php?t=1443
For this TAS to be accepted it will have to beat or tie all existing scores TAS and non-TAS.
Like meepers said: Your Corneria segment should have at least --(EDIT: See Below)-- points, as this is currently the maximum anyone has achieved. (There is a video somewhere in that thread, most of the information for achieving such a score is also there.).
If you really plan to tackle this challenge, I would suggest posting your progress in the thread linked above for review on a stage by stage basis.
Being that this is a popular game, a lot of people here have put much effort into improving this run. Much information to produce a great run is present here, but a full run has not been produced. A run that does not represent all of the known tricks by the community will likely not be settled for by the community. (See: Ocarina of Time's history.)
This run is probably much more difficult than you had anticipated for a first run, but any contributions you can make to a possible future run would be appreciated by the community.
I'm not sure about 1.0 or 1.1, someone else can probably suggest which is better, but I'm sure one is more preferred than the other.