First and foremost...
Congratulations on 10k views, which is freaky, since this has only been on NG for a day.
Now, before I go on, this was a decent effort. But there's a lot of room for improvement. You obviously know what you're doing in terms of importing sprites into Flash and such, but you honestly need to find some new sprites to use. While they aren’t as cliche as some generic Mario or Sonic sprite, I've still seen them more than two or three times on Newgrounds.
For the style, (which is a cliche term in and of itself) it's just the generic, formulaic "Someone vs. Someone" type of movie. While this isn't bad per say, it's been done before and better. My advice is to not worry about file size and just go nuts with the fight scenes and choreography of the fighters. In other words, don't focus so much on the characters powering up and going "ZMOG KAMEHAMEHA!!111one!1" and try to balance that with the characters throwing some actual punches or kicks.
For the sound, since you already admitted that that was a problem, I won't penalize you for it. Try going onto some DBZ fan sites and look for some sound effects, and maybe some better music.
One thing I really liked was how humorous it was. It wasn't really humorous in the traditional sense, but this reminded me of how hilariously corny the dubbed version of this show was. Ah, good memories.
So overall, not a wasted effort. But it could have been much better. I look forward to Part 2.