454 is fail. 463 is win.

The first thing you need to know is what you need to get from each checkpoint. Here's the totals:

10-10-20-20-20-20-10

Here's what you do. After the beginning rail, collect zero rings until one point. After activating check 2, avoid all other checks. At the 6th check, get the rings there, but not the Black Warriors (except the one on the saucer). At the end, warp back to the first check and grab the rings in front of you. Have 50, then warp to the 2nd check. Keeping X0 the entire way, get to the 6th check, but don't activate it. You should have 110 rings. Take a hit and grab 9 of the 10 rings. Back up far enough that when the Black Warrior shoots you, you fly back and touch the check. After getting these rings, you should have 139 rings. Get all the others and you should get 463 easily.

That's all. Enjoy your record! :)