Gonna go with 2A.

Hey guys, just wanted to give a few bits of insight about the runs I've just submitted. I know I'm just a random guy who just showed up and there's not exactly a community surrounding this game but if anyone else wants to try and improve and beat those times, here's what I've found:
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Grappling and then bodyslamming seems to be the quickest way to drain your opponents health. Suplexes have a longer animation time, Irish whips are obviously pointless. Headbutts are probably faster than bodyslams but do less damage. At a certain point though, it's going to come down to the luck of the game giving you perfect grapples in order to get a perfect time.
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I'm 99% sure that every wrestler has the same stats when it comes to winning or losing a grapple. The only time it has seemed to make any difference is when facing Hulk Hogan. It's most likely that I've had instances of bad luck, but he was the only one who gave me the slightest bit of trouble when grappling. However, it was the 90's when this came out and Hogan was insanely popular. Not saying it wasn't random that he fought back. Just saying it's a possibility the game could be slightly skewed in his favor. Again, most likely just my bad luck.
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Lastly, I did have a strange bit of luck while trying to figure out the fastest way to eliminate your opponent. This is also where my idea about Hogan goes out the window, as he was the one I was facing. I had mistakenly walked over to my opponent while they were lying on the mat at half health and went for a pin, which was somehow successful. Unfortunately I was unable to replicate this. I assume it was a random chance from playing on easy. If that's not the case and someone can find a way to recreate that scenario, there's a way to cut my times in half.