Long story, buy Twin Galaxies record book (outdated now, 2nd book late) if you want to read it. They, over the years, have become the official record holders. All the record submissions they get have to be verified. Sending pics doesn't work, actually gotta videotape you playing from the before you boot to when you turn off your system to prove no one used a gameshark or entered a code mid-game.
I participated in the CT2 and 18 Wheeler contests last summer. Also sent in 1 CT thing, Monkey Bowling, and a RE run. Prolly gonna do the CT3 and Monkey Ball contests this summer.
You can search the site for records, but they haven't entered a lot of the newer ones. CT2 still isn't on there.
Twin Galaxies was more popular back with the classic arcade games, before we had to deal with all the cheating and stuff. Like most of the refs are record holders in classic games. Robert Mruczek set the Star Wars record, after playing for 49 hours straight, he then killed himself. Billy Mitchell was the first person to ever achieve a perfect game of Pac Man. I forgot to mention the festival has classic arcade games on free play. w00t!
EDIT: This is always a fun video to watch also:
http://www.twingalaxies.com/images/a...-dc-thps-1.mov