I was hoping someone else would chime in. I agree that it's possible he's that good, some moves were very impressive though. Although it's more probable since it's just a 4 1/2 minute game. I hate that good players have to be doubted sometimes, I'm all paranoid about great recordings these days.
One "trick" you might have missed through using MAME:
At very beginning, start by applying gas gradually. Using this you gain 1 second compared to pushing pedal to the medal. 1second =1M points.
Of course you need analog controller for gas, like at arcade machine.