In the rules on the single star leaderboard it says emulator is banned, however you can clearly see n64 emu times on the leaderboards.
He indeed means the Single Star/IL leaderboards. Current records must be submitted using the N64 version. However, for historic reasons, Lyfey has gathered several old runs from back when the N64 wasn't the standard. This is to show the development of the strategies that are used. Furthermore the old times show how dedicated people have been to Single Star even many years ago.
We would like to announce that VC and EMU subcategories are now active on the Stage RTA leaderboards (under "Levels"). Stage RTA involves collecting all the stars in a given stage including the 100 coin star. Timing starts on star select and ends upon collecting the final star. You are allowed to us