well, I tried 33 times (!) and I got 1:34 for level 3 with raft. I had to restart so many times because the red darknut wouldn't drop the bomb I needed, or I'd die in the process of completing it...even had a keese kill me once :|. Manhandla can get very annoying if the first bomb doesn't kill him completely, so I had to restart a few times because he'd kill me with his quick-moving, forcing me to redo the darknut room again! Could have done Up+A a little quicker too, but I was rushing a little. Hmm, I also have a bad reflex from ALttP of moving away from a bomb after dropping it...
Video here:
LoZ Level 3 Challenge
Anyone else want to give it a try?
Edit: I tried TSA's challenge of level 1 and I got 1:56. I think I'll work on it some more.
Edit 2: I redid it again, and I got 1:50. I did get 1:45 earlier but I forgot to record. I believe the lost time comes mostly from the uncontrollable randomness. Anyway, the run is here
LoZ Level 1 Challenge