Beated Perry by 373 milliseconds. There's definitely room for improvement.

Run starts - fade in (last dark frame): 00:01.200 Load 1 starts - fast-travel (iDroid screen disappears): 00:38.434 Load 1 resume - fast-travel (last dark frame): 00:43.834 Load 2 starts - cutscene (camera angle changes/ light change): 01:18.267 Load 2 resume - cutscene (last dark frame): 01:22.934 Load 3 starts - cutscene (LZ icon disappears): 01:58.167 Load 3 resume - cutscene (last dark frame): 02:12.367 Run ends - lose control of Snake (cutscene starts): 03:51.500

If there's something wrong with my timing I'll fix it as soon as possible.