The "bunny hop" method is very nice for keeping momentum going while turning around corners, I'd wager you have to use it if you want to run faster than 1 min 15 sec.
My new best time is 1 min 14 sec, I wager improvement will be only marginal from here on out.
I don't think the Frosted Boots do anything, as the track is already frosted...
The boots are supposed to make you slide more so you're likely to lose control on the turns. I'd be interested if people have tried this. Personally I am planning to use my ornaments on other things. Purrrrple Lurrrrpa!