No, the load times will be inaccurate.

Not long ago I got my times removed, because I ran this game on a original disc on Nintendon't or Dios Mios: http://www.speedrun.com/run/nz1p0orz So yeah the answer is no.

You've got to run through the disc channel. Unfortunately this is the only way to ensure fairness in the community.

Not only should you avoid bootloaders, but you should also use an actual game disc instead of a DVD you've burnt yourself.