Sub 1 Hour is definitely possible with the new route. I didn't get it because I accidentally forgot to do Camera Man Down, losing about 30s, and messing up with the Flyer 2 order and missing out on the beneficial Night cycle, losing at least 1 minute. Also many little mistakes throughout the run.

Ran on Dolphin Emulator 5.0-16380, with the 'Speed Up Disc Transfer' option enabled to cut down load times.