There are only very few rules on making timeattacks.
I'll list here few. Notice that there may be exceptions
of some rules, and these are somewhat more guidelines
than actual rules.
Rules in tool-assisted movie making
The games must be real
The movie should look like it could have been played with
an authentic hardware. This makes it more familiar to the
audience.
This details to the following points:
Hacked games are not allowed
An exception to this are hacks which only make the
game playable on an emulator.
Game genie codes etc are not allowed
Cheat-keys and debugging codes are not allowed
Such as Konami's up+up+down+down+etc sequence.
If the key sequence is mentioned in the manual as a normal
means of playing, it is (usually) allowed.
Out-of-emulation postprocessing, such as
video editing, is not allowed
(Non-gameplay-altering edits such as adding subtitles
are not forbidden.)
Famtasia is NTSC - the game should be NTSC as well.
PAL games (most European games) are allowed only if they play
with the same speed as the NTSC version, or if there are
distorted graphics in the NTSC version, etc.
This depends much on the case.
The point of this is that PAL versions should not be used
just to make the movie faster.
Gameplay should be perfect
This is the most controversory statement, and everyone
can apply it almost whatever way they wish.
The following points are very debatable, and
they are in no way enforced.
Death should not be used as a shortcut
This is the most controversory.
One should not collect items that are not good to collect
Debatable.
The character shouldn't get hit (hurt)
Debatable, highly a style question.
Postscript
This page is work-in-progress and may be removed if so seen.