Had some questions, want to be 100% sure when I start running this game properly.

1. There are no rules on the speedrun page, what exactly are the timing requirements? The co-op run just submitted started on choosing level 1, and ended on last hit to Giga Skullmageddon, is that correct? Or is it IGT?

2. Main categories seem to be New Game + but there's also no rule on that. New Game would be a completely different speedrun. Is there any reason to consider that separate from these runs?