HOW TO SKIP THE SPLIT-SCENE IN THE NORTHERN CRATER:
http://www.youtube.com/watch?v=GfuSVyhVh84
The party split half way down the North Crater may be perceived as slow and long winded, especially in a TAS, so why not just skip it?
If a Save Point is placed where Cloud situates himself during the first split and the player exits the crater directly after, the split-scene will be replayed when you return, and this time Cloud will, thanks to the Save Point, be able to move around freely (aka Paralyze Dodge) and skip the split, this would also trigger the infamous unclimbable stalagmite-glitch, but that's of no concern to the speedrunner!
THE SPEEDRUN SPLIT SKIP
Now, having to exit and re-enter the crater just to skip the split may not sound faster, and it wouldn't be. But as luck would have it, it's actually possible to paralyze dodge already on the first visit! Just stand Cloud next to the 2nd stalactite ready to descend, enter the menu and select the Save Crystal and *hold* the Confirm-button, if done correctly Cloud will start descending with the text-box is still open, now move the cursor to "No" and wait until the game tries to use the text-box for something else before you hit confirm, paralyze dodged!
RIGHT PATH
If you plan on taking the Right path just pick "Right" for Cloud and head on out, no need to direct the others.
LEFT PATH
If you plan on taking the Left path you can *not* just hurry on, if you do the entire party will greet you on the next field. Instead you got two options. 1) You send everyone where you want them (Cloud Left) and then proceed Left, skipping all the good byes. 2) You head Left, but pick the option "Right" for Cloud just before you leave. This way no one will be waiting for you on the next field, but Cloud will also be unable go any further, that is unless you place the Save Crystal here, and perform a paralyze dodge to get past the message that normally hinders you.
SIDE NOTE ABOUT THE UNCLIMBABLE STALAGMITE
If the split scene isn't terminated correctly the stalagmite will remain unclimbable regardless of where (any field) you place the Save Point.
FINAL NOTE
This video was originally uploaded and released "in Japan" to congratulate youtube user "letrangerstranger" on his FF7 RTA done in late 2011, clocking in at 8h 22m 26s (US/NTSC-timer, SDA-timing), so anyone following Japanese speedrunners may have seen this skip before.