I did it - I escaped the IRS despite my bad platforming skills (never thought I would say that)!
The bullet time thing seems a tad bit overpowered. I was able to bypass almost all the platforming sections using just the bullet time launch alone. Also, it looks like the screen stretching when enabling bullet time is a bit wonky, since the screen stretches but the start position doesn't change in the physical world to reflect that. As such, I often ended up launching myself in unintended directions since the starting point would appear to move from my perspective.