RTA Guide/Virtual Console
The Virtual Console is the second official re-release of Super Mario 64. It is the overall fastest platform for speedrunning Super Mario 64, due to its lack of lag and fast loading times.
Consoles
Super Mario 64 is available on the Virtual Console service on the Wii and the Wii U.
The Wii Virtual Console is generally preferred over the Wii U because of the Wii U's inherent 4-5 frames of input lag caused by syncing the game to the Wii U Gamepad. GameCube Controller support on the Wii is also a major advantage because despite the Wii U having an official Gamecube Adapter, it is not compatible with the Virtual Console service.
Versions
There are 2 versions of Super Mario 64 that were released on the Virtual Console.
NTSC-U
This is the North American release.
NTSC-J Shindou Edition
This is the updated Japanese release that includes support for the Rumble Pak. This version has removed the ability to perform BLJs, so 0 star, 1 star and 16 star cannot be completed. It also longer loading times than NTSC-U and NTSC-J, and slightly less lag in some sections. This version is only faster in some single star records, but in a full game run it's best to be avoided.
The only version that Virtual Console speedrunners should be using is NTSC-U. It is faster for every category.
Setup Guide
The Wii softmodding guide is a video tutorial to softmod your Wii. The video is for Majora's Mask, but the process is the same for any Virtual Console game.