I got the idea for such a compo, while watching the Half-Life Speed run from Speeddemosarchive.
It's pretty simple.
To win this compo, you just have to finish a chapter in Half-Life as fast as you can and film it all.
The first chapter: Anomalous materials
You have to finish it till' the room with the 2 scientists just before entering the test chamber.
My time is 2:28.
Video here (DivX 6.1 required)
The winner of this chapter chooses the next chapter!
Software:
Fraps - great app for filming.
Wax - Since fraps can only film 30 secs per video - you'll need some video editing software to pull it all together. Windows movie maker is good, but if ya dont have it, Wax is great too.
Good luck.