I used to speedrun Code Veronica X (PS2) and RE3 (PS1) back in the day and from what I can remember of the first RE (I had Directors Cut on the PS1) 3 hours is more than doable if you know where to go, what to pick up and what can be avoided. The only issue is the occasional boss fight that is unavoidable, but after 3-4 play-throughs of ANY RE game, you get used to the boss phases and know how to quickly dispatch them.

As far as his video it looks like he edited out the cutscenes. As far as the PS3 version I don't know if the cutscenes are ever skippable. Most games with completion timers do not count the cutscenes against you anyway.

Speedrunners also play two ways:
Glitch-free rules - you play 100% legit and don't take advantage of any glitches or loopholes to save time.
Anything goes - you take advantage of every single glitch and loophole to shave every last second off your time drastically decreasing the completion time.

The problem is with some games there is a grey area between these two play styles. Some time saving loopholes don't get knocked for legit playthroughs because they are either legitimately designed to be a time saver (intentional shortcuts placed by the developers) or their methods are so easy to pull off that they can be performed even unintentionally, but how legit these methods are differ in opinion between legit speedrunners. Stuff like wall clipping or code overflowing though definitely falls under the glitchy playthrough style.

All CGI movies on the PS4 version I skip with the options button. Encounters with Barry and others can be skipped the same way. I'm totally doing this speed run after I play it on hard (which I already messed up on and have to start over because the guy by the snake died)

After looking it over, I see where you could get the impression, but no, I did no editing work on these videos as that would defeat the purpose of a speedrun. I even keep in the moment that I died late in the speedrun. I played this on the PS3 and whenever there was a cutscene I would consistently press start. I re-watched it and I can't tell where you say I didn't trigger the animation, it starts and runs for about 2 seconds before it ends. Additionally when Barry kills the zombie that cutscene begins as well and I mention it in the commentary. I only make this distinction because I have seen others do video editing tricks, etc and I have no interest in that. It removes purity. I also did NO glitches (taking a no-glitch side to what GameSpawn was suggesting). Please ask away if I'm misunderstanding the part that you can't decipher. Perhaps you are unaware that if you run back into the room with Barry he kills it for you?

I'll take 2 over 4 also. And even without a number, I don't see how Code Veronica, my other favorite in the franchise, isn't mainline when it's the actual sequel to RE2.