OK, let's do it. I'm still somewhat recovering from SGDQ 2015 but I agree we should do this again sooner rather than later, perhaps a month from now. Having said that, I don't have to be the organizer every time - if someone else wants to step up to do one for the site please let me know as organizing this does take a bit of time due to the need to find and select a good game.
I'm definitely considering it. I'd love to run events like these, and I've got the spare time and complete lack of social life to do them often.
Take note that this one was based on a predefined deadline for start and stop (albeit with a sliding window tied to the SGDQ schedule). The first speed TAS competition featuring Baby Moses worked on an honor system whereas the SGDQ event with Streemerz was very much a hard deadline, with announcements of the ending being neigh and all of the requisite panic that goes with it (although I'll admit that the actual cutoff was substantially delayed due to a long setup block for Super Metroid).
If we were to have another event, should it be a hard start and stop time like Streemerz (which may not work well for people in odd timezones but has that panic factor) or should it be on the honor system like Baby Moses was (more flexible but easier to cheat at)? Thoughts?
I don't think a hard start/stop would be all that bad. The one minor issue I had with this past race is that the deadline wasn't actually set in stone, it was highly dependent on how SGDQ went itself. As you said, Super Metroid took a while to set up, and any of the other games could have gone extremely well or seriously long, leading to a much shorter/longer time than anticipated.
The issue with a shorter time is, also as you said, potentially alienating people in different timezones (or insomniacs <_<), but it does give the panic factor and ultimately leads to a more interesting race. A longer time would allow more people to enter, making it interesting, but there would be more time to carefully optimize and thus it wouldn't particularly be any different than, say, a Dream Team Contest. Except without teams, of course.
So in my opinion, we'd either have to:
A. Pick a short time that works for as many people as possible with a simple game that can actually be TASed within that time limit
B. Pick a longer time to account for everyone, but pick a very complicated game to make up for the longer time
I do actually have some more ideas about doing events like these regularly, which I'm probably going to post as a new thread since it would encompass more than just speed TAS races.