You do not want this version if you want to speedrun (except UFO category because the run ends before the Amusement Park).
Make note of the case and especially the disc. Unlike NTSC-J, the Greatest Hits version retains the glitch, all three releases are fine for speedrunning. (left to right: Black Label, Greatest Hits, PlayStation Network) For speedrunning, the latter three do not have the Amusement Park skip (using the Aglaophotis on the first Larval Stalker / ghost child that you encounter), and are not optimal for speedruns. There are 3 regions with 5 different versions of Silent Hill (NTSC-U/C, NTSC-J V1.0, NTSC-J V1.01, NTSC-J V1.1 and PAL). This is to help those of you wanting to buy the game and run it legitimately.