Break out the champagne, folks. The "impossible" Rayxanber II has just been conquered by some random bum from this very board.
(Me.)
I used no tricks, no chicanery, no save states, and no slow motion (except the slowdown imposed by the game itself of course).
The only thing that was really required of me was patience. When I first started playing, simple stage 2 seemed incredibly tough. And I imagine that a lot of people who have already heard tales of the game's devilish difficulty run into trouble early on and immediately head for the haven of save states or whatever. But once I got some practice under my belt and put a little thought into the challenges that faced me, I was able to breeze through the first three stages.
And really, only stages 4 and 6 are what I'd consider an extreme degree of hard. In fact, I'm hesitant to call it the Turbo's toughest shooter, as the second half of Sinistron rivals anything to be encountered here.
I guess what I'm trying to say is that if you plan on playing the game, also plan on being patient and don't duck out at the first sign of trouble. It's a great shooter--great controls, great graphics, great music, everything. And it feels really good to beat it legitimately.