So, 1-18 in under 2 seconds is definitely impossible on console, right?

It's actually possible, you can get 1.98 by performing a "spin jump" at the beggining of the level, or whatever you want to call it. You jump and at the same time press the opposite direction during 1 frame, it allows meat boy to get faster acceleration and then save a frame

Of course there are other characters that can get a faster time. Also if you are willing to forgo the il rules you can use a storage jump.