I have uploaded and created a playlist of my laps for beating each ghost, for those who missed out on the glitch (such as myself.)
http://www.youtube.com/playlist?list=PLLKl5EZasJU4MewlfRRQvO...You only need to beat the original 20 tracks for the achievement to unlock, not the mirrored versions or OutRun Bay if you have that installed; I unlocked the achievement in the Egg Hangar video.
I made the call to not commentate over any of them in case people played back any one section repeatedly. That said, I'm more than willing to answer any questions about any of the laps either in the comments on here or on YouTube.
I used standard Sonic in every race bar the first track to keep things consistent; most races would benefit from a better character, such as Shadow on Chilly Castle for instance.
(Chilly Castle can take a running jump off a cliff.)
This achievement is far from impossible, it just takes a few practice laps and some determination.
Hopefully this is helpful to some. Good luck!
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Target times for each track:
Ocean View: 0:32.483
Samba Studios: 0:52.732
Carrier Zone: 0:56.565
Dragon Canyon: 1:00.665
Temple Trouble: 0:59.499
Galactic Parade: 1:04.065
Seasonal Shrines: 1:02.782
Rogue's Landing: 1:06.583
Dream Valley: 1:15.568
Chilly Castle: 0:53.082
Graffiti City: 0:49.199
Sanctuary Falls: 0:58.582
Graveyard Gig: 1:17.868
Adder's Lair: 1:23.119
Burning Depths: 0:36.999
Race of Ages: 1:17.685
Sunshine Tour: 0:48.149
Shibuya Downtown: 0:52.082
Roulette Road: 0:53.882
Egg Hangar: 1:09.233