Unfortunately, there is a time discrepancy in Cyberdemon531's run regarding the time. The original run by MURPHAGATOR! was done on a Playstation using an original disc. The Cyberdemon531 run was performed on a Playstation 2 (which is legal) using what I'm assuming is a local hard drive instead of a disk.

Looking at the loading times for MURPHAGATOR! and Cyberdemon531 make this very clear. For testing, I looked at the length of "Data Loading" on the screen between fights 1&2 and fights 2&3.

MURPHAGATOR! using a PS1 and original disc (presumably)
Data loading 1&2: 5.12 seconds
Data loading 2&3: 5.84 seconds

Me using a fat PS2 and original disc
Data loading 1&2: 5.26 seconds
Data loading 2&3: 6.20 seconds

Cyberdemon531 using a PS2 and ???
Data loading 1&2: 3.03 seconds
Data loading 2&3: 3.40 seconds

Cyberdemon531's loads for ONLY the "Data Loading" text saves 2-2.5 seconds between each fight. This doesn't include other black screen time or similar. Which means that Cyberdemon531's time is likely 20+ seconds slower than MURPHAGATOR!'s time.

Probably the best resolution is to use the in-game time instead which only includes fight time.
MURPHAGATOR!'s in-game time was 1:07
Cyberdemon531's in-game time was 1:40

its called fast disc speed, friend. its a speedrun, if you wanna go by gameplay time feel free to make a different board or whatever.

My mistake - I assumed that the rules were based on the original run for a fair comparison.