Recently I've been doing some quick research into the different region versions of the PS1 version of the game and found out the following:
PAL - Runs at 25FPS normally, can be run at 50FPS as doubled PAL (I believe can be used for this game since it's used in many other games?)
+ Police spawn at a slower rate so you have a easier time of getting to the end of missions most of the time without a tail however IGT is slower as are loading screens.
NTSC - Runs at 30 FPS normally, can be run at 60FPS as Doubled NTSC (No idea if this is allowed or not)
+ Police spawn more frequently so having a tail near the end of the mission is more common making runs harder as a whole so having good RNG is needed for a good run with this version. IGT is faster meaning runs are quicker to complete.
Japanese Version is the same as NTSC.
Based on this knowledge:
If you have a Japanese or American PS2 along with the same region version of the game and enable FDS then the times should drop for this game by a few mins