I managed to salvage some of the 1-1 attempt. Now I remember what happened. Dolphin crashed like just as I approached the two ganados at the bridge and I just reloaded the save instead of replacing my save states from an uncorrupted crash. That is why the desynch happened I think.
http://www.youtube.com/watch?v=cTlsOV9A6js&feature=channel_video_title
Just to see where I was speed wise I TAS'd till the end of 1-1 and saved. I got 4:02 which is 1 second behind the world record of Derek and I was not even trying for the most part and had to equip the handgun again inside the house in the village to kill two ganados (long story). I honestly think 3:55 is well within reach for a 1-1 attempt if everything goes perfectly. I also made the silly mistake of escaping the boulder asap when I should have waited till the last few frames to make it further down the hill.
Edit - Just got 3:57, new record. :P