Meta knight kickn ass! We've all seen dbz
The image quality was rather poor, but the file is still 7.6MB. Try reducing the quality of the sounds(and getting more music, the happy sonic bonus stage music doesn't fit action that well). Were the sonic battle voice clips supposed to be high-pitched?
It seems that at any given time there is only one object actually moving. You should consider using more layers.
You seem to rely on too much on the typical "dbz sounds + spiffy effects" formula that seem to be the plague of every single sprite fight movie after that
one series did well.