Just got to the 3rd disk and I would have to say a speed run of this game would be quite amazing if done correctly. You might have to farm a little bit of CP before the chapter 9 boss as I had some problems with him. Haste is a broken buff though.
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ATB cancelling
Okay, color me dubious on this. I'm pretty sure using PShift does not "magically" restore the bar. You get bars back when you switch because time is still passing (and because it de-queues whatever you were doing). But here, since I don't have a copy of the game on me, how about you try a little experiment for me and tell me what happens! Not in the rhetorical sense, I'd appreciate a report back since I can't check at the moment.
So take Fang (or Snow I guess) and some Paradigms that won't kill the enemies. SEN/MED/MED, SEN/SYN/MED, whatever (but if you do use a Synergist, make sure they don't have Haste. It'll kinda contradict the point). The reason I'm saying to use Sentinels for this is because their moves actually last long enough to see this (as compared to attacks and cures that you won't see stopping when you switch)
#1: Start a battle and queue up as many Steelguards as you can. When the first one starts, switch paradigms, but make sure Fang is still a SEN obviously. Now, I'm pretty sure that after the first Steelguard ends, she will not do anything. In other words, even if you don't change roles in a shift, your characters' actions are reset after they finish their current individual action (not even the whole turn).
#2: Now, switch a few times, until the animation goes down to really fast. Now queue up all Steelguards again, and this time, switch paradigms as soon as it gets to the last one. The bar should be basically empty, because during the shift, she was still guarding instead of idling to recover the bar.
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It might be a good idea to farm Deceptisols (smoke shrouds) in the beginning of the game where you control Vanille and Hope is a teammate, and they're on their way to Anima, before they meet up with Snow. Enemies there commonly drop Decpitsols. Deceptisols will help you sneak by enemies when they're tough to just run past.
I'd have to say a better use is getting pre-emptive attacks in the random encounters you can't avoid (before Barthandelus, 3x Sanctum Templars). If you're having trouble avoiding something that's possible, you need to try harder =p
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As for the requisite grinding in order to beat Ch 11, you might try the battle where the Behemoth is fighting the other dude, stagger the Behemoth, and keep him in the air with three commandos, never let him land. Even when his stagger bar runs out (and he's back to normal) if you keep him in the air, he'll never be able to retaliate. If he lands though, consider yourself dead considering how weak you are without grinding. In order to keep him in the air, you might not be able to do all four of your attack strings. You might have to interrupt and only do 1 or 2 attacks by pressing Y or triangle to juggle him.
lol this is what i said