Project64 is an emulator, not a speedrun tool per se. Speedrunning on it means leveraging its features to optimize execution, practice, and verify runs—similar to console but with extra tools. Always check the game’s specific speedrunning community rules (Speedrun.com) regarding emulator legality. Many leaderboards ban or separate emulator runs due to load-time advantages and potential for tool-assisted features.
Golden Rule: Emulator is for learning and practice. For serious competition, original hardware (or officially sanctioned emulator settings) is usually required. Respect the community’s rules.