MST = Medallions, Stones, Trials.
In short, beat the 5 adult dungeons, the 3 child dungeons, and clear the 6 mini-dungeons (trials) in Ganon's Castle, as well as beat the game.
I am playing on Japanese version because the text scrolls faster. All glitches and sequence breaks are exactly the same as the US version.
I am playing on Wii VC, using a GameCube controller.
My best time is 2:49:44.