Huge "update" on my old PB / Former WR in this category

First frame when Gilius raises his hand up - 0:15.77

First frame when the screen begins to darken after Sara reaches the Golden Axe - 22:15.31

22:15.31 - 0:15.77 = 21:59.54

While doing this run, I recorded a demo/replay file, which I can provide if needed

Emulator: Gens 2.14

ROM: "Golden Axe III (J) [!].gen", renamed to "Golden Axe III (J) [!].bin" (because ".gen" extension doesn't allow to record a demo/replay)

Mod Notes: I usually counting run as started in the frame, when Gilius' hand was been already down. But that's still 21:59 (21:59.29)