In a shocking twist of events, Bowser kidnaps Peach inside her own castle. Mario shows up and rains on Bowser's parade by collecting all 120 stars and winning in record time.
Numerous bugs are exploited in order to speed up Mario's progress and the physics engine is abused to its fullest.
This is an improvement of 09:04.17 over the previous movie by Rikku.
If you prefer to see the game beaten in the fastest time, then watch the "0 Stars" run.
If you're looking for a TAS on the Nintendo DS remake, you can watch it here.
Note: There are encodes of higher resolution in the discussion thread.