So how is it that you can get so many points? I've only done it twice but each time all i got was 32 and 72 points. What's the strategy to get all those points (for Omnislash etc) ?

It's determined by whatever you get for handicaps. The more severe your handicap is at the end, the more BP you get. Each of the below numbers indicates how much will be added to your total. (7th round - Break All Materia = +10,000 BP)

"Handicap: 1 2 3 4 5 6 7
Poison -- 4 - 6 - X - 16 - 33 - 82 - X
Toad -- 6 - 10 - 19 - 44 - 130 - 520 - 3069
Minimum -- 5 - 8 - 16 - 36 - 108 - 453 - 2940
Break Summon -- 37 - X - X - X - X - X - X
Break Command -- X - X - 17 - 41 - X - X - X
Break Magic -- 15 - 28 - X - 145 - 445 - 1755 - 9425
Break Independent -- X - X - X - 99 - X - X - X
Break Support -- X - X - X - 91 - X - X - X
Break All Materia -- X - X - X - X - 463 - X - 10000
Break Accessory -- 10 - 18 - X - X - X - X - X
Seal Items -- X - X - X - X - 355 - 1368 - 7200
No Handicap -- 7 - 7 - 7 - 7 - 7 - 7 - 7
1/2 Speed -- 5 - 7 - X - 19 - X - X - X
1/2 HP -- 13 - X - 40 - 84 - 204 - X - X
1/2 MP -- 12 - 20 - 36 - 73 - 173 - X - X
1/2 HP&MP -- X - X - X - 94 - 244 - 775 - 3134
Zero MP -- X - X - X - X - 171 - 502 - X
Break Weapon -- X - X - X - 140 - X - X - X
Break Armor -- X - 17 - 33 - X - X - 654 - X
Time X30 Damage -- X - X - 26 - 54 - 130 - X - X
Down 5 Levels -- 5 - 8 - 13 - X - X - X - X
Down 10 Levels -- X - 16 - 28 - 53 - 118 - 308 - 968
Restore HP -- 1 - 1 - 1 - 1 - 1 - 1 - 1"
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- Gamefaqs

I would have never suspected break all materia to be the highest point giver.

Breaking your accessory sucks alot more.

Ah kk thanks.:)

Depending on how far you are in the game, a ribbon will help you out a lot incase you hit things like poison and or toad. All I had to do to breeze through it was make sure I had enemy materia with things like: 1. magic hammer, 2. Beta, the spell if you need something that can easily reach 2000 damage from that giant snake dude. ( I think, been a long time since I played. If you are trying to nab it early it might help ) 3. That one spell that casts haste and barrier that you acquire from the snails.. and 4. "White wind" heals double your current HP which isn't amazing but it cures everything from poison, toad, confusion and blah blah. The one materia that helps out the most would probably be mime so I never bother trying to get omnislash until I get that bad boy.

i loved this mini game, I think my favourite was the snowboarding game tho, that was good enough to be released on its own lol