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I've been running this chapter trying to better my time, but even after a six second increase in my best time, I'm still eleven seconds short of the leaders, which leads me to believe my strategy is flawed somewhere.

Walk-through for Adv Story - Chapter 2

Build Newspaper Stand
Adjust Settings of NS to ~80%
Build Solar Windmill
Turn off SW
When you have $200, turn on SW and build Chem Lab @ 14:05
Turn off SW
When CL is near finished, turn SW on
Adjust settings of CL

Build SW2
When SW2 is finished, turn SW2 off.
Adjust SW2s power setttings to maximum.
Adjust SW1s power settings to 97.
When you have $300, turn SW2 on and build a radio.
Turn SW2 off.
When Radio is finished, sell it.
When you have $350, turn SW2 on and build Hall of Records.
Turn SW2 off.
When HoR is finished, sell it.
When you have $500, turn off CL and turn on SW2.
Build Spy Training Center
Turn SW2 off.
When you have $350, turn on SW2.
Sell CL and NS
Build Observatory.

That's good enough to get 11:22; would anyone care to comment on how to make up those last eleven seconds?

Regarding the @ 14:05 line, that's the earliest time that I've ever achieved that step. Luck has a big factor in how quickly you arrive at that step and I just run it several times until I'm off to a good start.

This game is still fun, even after taking a long break from it.

and who is the master on that level?

I'm not sure on this one, but I think I bought a Solar Collector on the second powerexpansion

It looks like you got most of it right, remember just not to sell the Radio/Hall of records to quick

I figured it out; I didn't realize that the Spy Training Center could be shut off after registering and still complete the level.