I retimed this run using https://somewes.com/frame-count/ with a console FPS of 59.727500569606 (the GBA's native framerate according to http://tasvideos.org/PlatformFramerates.html) and raw video framerate of 30 fps for a console total time of 2:57.121. First Frame set on Mario's Hand and End Frame set on first Princess Peach frame after beating Bowser.
I use mGBA 0.8.4 with "Super Mario World Super Mario Advance 2 [J]" ROM.
I time my runs manually with LiveSplit and I use a generic USB controller (SNES shaped) all buttons are mapped as they should while X and Y, are used to control LiveSplit as follows: X - Starts/Splits. Y - Resets timer.
I use NintendoSpy as Input Display with a custom skin. The XML archive doesn't recognize my D-pad as a D-pad but as a Stick instead and that's why when I'm not pressing any button the red circle lights in the center as if it were a stick.
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The rules have been updated with more details.
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It's a lot, but if you know all this information/rules, you won't have any problems on other GBA game leaderboards.
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What are the settings needed for the emulation: Emulator Settings (mGBA or BizHawk)