At the end of the first level when you're given a choice between three bosses select the jet plane. When the cut-scene starts rapidly press the trigger, this will skip the cut-scene and fire a shot right at the beginning of the fight that will immediately kill both pilots in the jet. (note: this trick is done with the controller, NOT with the light gun). Defeating the boss this fast will gives you perfect time, giving you a whole lot of bonus points.
NOTE: I used to do this trick on the Dreamcast version, so I don't know if it will work on the PS2 or Xbox version, though I do suggest you try it.
A Dreamcast mouse can be used to aim. Press Left Mouse Button to shoot, Right Mouse Button to toggle your targeting recital, and Thumb Button to pause game play. The Scroll Wheel will scroll through the menu options.
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