I didn't expect this to come out so soon :)
What can I say... great job. I'd have wanted to read more of the dialog but this was pretty much action packed movie. I didn't like most of the musics but that's a matter of taste. Lot's of different sound effects helped to keep the fight entertaining as well as the camera. I had always thought that Luigi was more like Krillin but you said you based him on Gohan. It's good that you alter their personality and not make them exactly the same as in dbz or sonic or mario series.
I really must say it again. You've been working hard since it came out this soon.
You asked about the bugs:
1. Only one I found was when Luigi was waveing his hands when Mario was taking a count, it looked as if the sprite was in three pieces.
2. Someone said that the movie freezed for a minute or two. I've noticed that flashmovies tend to freeze sometimes if I'm using Firefox-browser. This bug does not occur with Explorer.