Not too shabby for a first go at Flash.

Good start! Next flash, make your sprites and BGs bigger. All that white space was a bit distracting from your movie. Also, jazz up your action sequences with some classic 16- and 32-bit action, rather than manipulating the sprites to do things they were not meant to do. Next, fill your movie with eye-catching backgrounds, FX, and some of the great music you used in this flash. Keep up a fast pace for the action, so it's not just a boring side-scroller.

Keep at it. I'd love to see those custom sprites. Good luck!

The first steps of a long journey

Well, looks like you're getting the basics down. Just keep searching out new tutorials to do things like scrolling images, that would have improved this movie greatly.
Some more tips: don't make him crouch on EVERY jump, just the big ones. Experiment with making the gravity look more real.
Let us see that menu screen you made, slow it down so we can see it.
It looked like a real video game up to the point of Mario grabbing onto ledges and whatnot, skip the matrix crap and keep it 8-bit.

Make sure to watch the great sprite animators and try to learn from them. Keep working on it, don't give up!

It's a start, and a bit of a twist on the formula

First off, I've never seen a Mario flash where he is Megaman. An odd concept, but it actually worked out surprisingly well. Given Mario's many costumes and power up suits, I'm actually surprised noone else has thought to combine the two!

Made me nostalgic for the classic old Megaman games as well. I loved playing them back in the day, and using authentic music from them made the movie work well. It was even laid out like a decent level, which helped it feel fairly authentic to the experience.

My main complaint would be that it is just too small. The stage is about 80% empty, just a white void. Make the backgrounds and sprites bigger and fill up the screen. Everything is small and hard to see, and making things bigger in flash is simple as could be.

Hopefully for the next flash you do you'll have backgrounds that fill up the screen better, and action that doesn't require eye strain to watch. A very solid first flash though.
PS: Was I in the special thanks part of the credits? Very kind of you, and good luck on your future submissions!

On track

Mate, you are on track. The movie is decent and I enjoyed the boss fight, On the other side, the fact that it is not a full screen really bothers me. I know that you are still learning the basics of flash, just make sure that you make a full screen next time.

Why

Why would we want to sit here and watch you play a video game. What's the point? You think that watching people play 8 bit Mario is fun? No. It isn't. And what was with the white part? You only used the bottom left corner? I mean really. It was pointless.