The Elder Scrolls III: Morrowind

Okay, because I've been getting so many nasty letters about cheating, here's author comments straight from the speed runner's mouth.

Single-segment 0:14:26 by Ryan 'Benito' Bennitt.

Player stats:
Name: Dunkwyk
Race: Argonian (Chosen for 50 Speed, 40 Intelligence, Alchemy Bonus)
Class: Assassin (Chosen for Speed +10, Intelligence +10, Alchemy Minor Skill)
Sign: The Steed (Chosen for Speed +25)

Scyda Neen
Take ring (all) from barrel outside
Talk to Sellus Gravius "Morrowind", "duties" (gives you gold)
Travel by siltstrider to Balmora

Balmora
Go to Mage's Guild
Speak to Ranis Athrys, "join the Mages Guild"
Mage teleport to Caldera

Caldera
Steal master's alchemy set from top of tower in Mag...