There are definitely several tips for getting into the seat. I've made it 3 times so far (2x got over 32,000 and other time the 1,000 prizes). The trick is speed. You cannot think - a 1 second pause on any question dooms you. For fastest finger (which I've never won) you just have to push 4 buttons as fast as possible - just pick an order and go with it the second they light up). Because of the large number of people in the audience someone will always get the right order in about 1-2 seconds - you can never match that by thinking. (For those who don't want to do the math - a random guess is 1/24 chance to get it right - with hundreds in the audience - at least a small handfull will guess correctly.
As for the regular game, find a comfortable position where you can get your fingers on the button and press it repeatedly really quickly to answer (I like with my hand over the top and the thumb on the button.) Put your finger on A and as the answers are read move your finger along and stop when the right answer is read. Right after choice C is read the lights will light up so start pressing fast as soon as C is being read if you know the answer.
Now - here's a really important tip which could give you the necessary edge. When there is a question that you know the answer to - hope that the answer is "D". Because the lights will light before D is even read and you can start pressing D repeatedly as soon as it lights up if you know that A, B and C are wrong. (This won't work on every question - for example, if the question asked for the most western state of the 4 choices, there is no "right" answer - it's all relative so you can never be sure if "D" is going to be right until you actually see the answer. But this works most of the time.) Because most people won't press "D" until they see the right answer, you can gain a precious second. Since most hot seat winners are decided by just about that margin - it can make the difference.