This should be it here, off the Uploader:
http://doukutsu.rdy.jp/stored/sanc5.avi
2:17:4. Now, if you just want a really fast time (under 4 minutes? under 5?) try to work out what time saving techniques he uses are worth ignoring and which are really helpful; i.e. figure out the best frustration/time gained ratio
A little more in-depth look at Ballos:
It's definitely worth it to stand 'in' Ballos, in his first form, and blast upwards repeatedly; I've tried not doing that and I usually end up getting MORE injured that way! Just take note of what you can do to avoid taking the larger damages from this and only taking the small (3?) hits, if possible.
Jumping in the eye of the 2nd form is a must for speed, and keeps you pretty uninjured. I always did the left eye, but the right eye is better, as it gives you more time with the 3rd form.
As for the 3rd form, if you are ultra fast, using auto-fire, hit the 2nd form in the right eye, and use both nemesis and missles, you can turn it into the 3.5 form before Ballos even makes a full circle. Otherwise, try to take out all the circling eyes after 1 loop (this is what I pulled off without missles and from his left eye; it is very tough that way, though) or 2nd loop (what I usually got if I lived that long, still fairly tough, and gives more time for you to take damage...).
And the final 3.5 form, it isn't always quite as easy to jump into that eye as the video makes it look. You DO have to get injured by the pointy fenc first, and you don't have enough juice to get up iin one boost so you have to land on a platform first. Getting into the eye here isn't essential, but it helps a lot. If you can't jump up there, blast at him with what you can; this form does not have much life.