Quite self-explanatory and easy to get consistently, just hammer away at the final boss with D-Punches while you're shooting and the boss is a goner! The boss is quite tricky when you're not cheesing it with this strat. Also, I get hit at the start to make positioning easier (for me).
There's one other trick (that allows you to deal big damage against the other bosses (apart from Mission 4's boss) which involves the D-Punch and a simple glitch) but I'll share that another day.
Here are some more pieces of tech to do with the SMS version.
The first one is the D-Punch Glitch. The D-Punch glitch: During the non-Punch Out style bosses and the rest of the game, if you use a D-Punch as soon as a bullet you've fired connects with an enemy, you'll do crazy amounts of damage. This glitch allows you to one-shot the Mission 1 and 3 Mini bosses and allows you to blow through the Mission 4 boss quickly. Learning this glitch (along with the Infinite D-Punch glitch more on that later) is key to getting a fast time.
This glitch however doesn't one-shot the Mission 2 (helicopter) and Mission 4 (grey tank) mini bosses. Instead, you have to fire multiple bullets before you do the glitch (as that mini boss has more health than the Mission 1 and 3 (core) mini bosses. It's about the same as the Mission 2 mini boss without using the Rocket Launcher power-up). As for the Mission 2 mini boss you have to fire one rocket off and then fire a second rocket off and let go of button 2 (to do a D-Punch) the moment the second rocket connects with the boss. The timing is a little tricky though.
The second glitch is the Infinite D-Punch glitch.
The Infinite D-Punch glitch is busted beyond belief, allowing you to beat the Punch-Out style bosses in under 20 seconds. To do it you have to press button 1 just before you release button 2 (after charging the D-Punch), you'll do a D-Punch that doesn't cost a D icon. This glitch allows you to infinitely use D-Punches during the Mission 1, 2 and 3 boss fights (as well as the re-fights with them during the final mission). I messed up on the last D-Punch in this video, so it cost me a D icon but you get the idea.
Here are some backup strats for players who aren't used to the timing of the D-Punch glitch and Infinite D-Punch glitch or are aiming for a no-major glitches run.
The first is the Mission 2 mini boss:
The strat is quite self-explanatory if you watch the video, so I won't go into detail.
The second is a backup strat for the Mission 3 boss (and his re-fight during the Final Mission):
What's worth mentioning is the fact that you can still hit bosses after being sent to the background (by a D-Punch). That's why you can see me do extra damage after a D-Punch. This works for the Mission 1, 2 and 3 boss fights (and the re-fights during the Final Mission) and oddly enough during the explosion animation.
The last thing I'll share about this version (unless I discover another glitch that could help with speedruns) is the optimal difficulty settings (unless you want to run on higher difficulties) and a simple route.
Optimal difficulty settings for a fast time:
The number of lives (PLAYER) and credits don't matter. To access the options menu you just press button 1 with the two-player controller on the title screen.
The D-Punch usage route:
Start with 4 D-Punches, use one for the Mission 1 mini boss. You'll be left with 3 but you regain a D-Punch after completing a mission, bringing it back up to 4. Mission 2: Collect the D icon to bring the D-Punches up to 5 and use one for the mini boss. You'll be left with 4 but it will go back to 5. Mission 3: Use one for the (core) mini boss. You'll be left with 4 but it will go back to 5. Mission 4: Use one for the mini boss and boss. This will bring it down to 3 but it will go up to 4 once the Final Mission starts. Final Mission: For all of the boss re-fights (the Mission 1, 2 and 3 bosses) use the Infinite D-Punch glitch. Utilize the safe spot against the final boss and hammer away with the D-Punches (the last four) and machine gun fire (make sure you time it so that you get the D-Punch glitch. The final boss has a load of health (and it recovers health too!), so you won't be defeating it as quickly as the other bosses, but the extra damage of the D-Punch glitch will help in defeating the final boss quicker).
And that's about it for Dynamite Duke! Hopefully these strats and glitches come in handy for anyone who wants to run the SMS version.