Saves up to 9 seconds. Unfortunately this skip requires an unpatched copy of the game, due to the use of the cover glitch.

Through continued practice, it seems that getting stuck on the ledge ("only one way out") is actually very likely. As it stands, the skip is very inconsistent (although still viable) so I guess it's more of a party trick than an actual strat.

And yes, 14:12 is my best time.