I picked up the N64 version of Yoshi's Story to compete with Japan, and it turns out that 2-2 is extremely laggy (VC has no lag). The main culprit is the dynamic lava and the lighting effects created by the fireballs.

Yoshi has a "sniff" mechanic that zooms the camera in while holding the R button. Using sniff for the entire duration of the room saves about 2 seconds over the normal method. Unfortunately, this has some ridiculous downsides:

¤ You have to hold R the entire time, and you already need to mash B while holding A during every jump, so this is a genuine hand killer ¤ Yoshi walks really slowly while sniffing, so you can't spend any time on the ground whatsoever ¤ You can't see shit

The clip on the left took me about 2 hours of attempts, but any% is such a short category that I'm probably going to incorporate it anyway.