I don't think it is totally inconceivable. It is definitely possible that there are hacks such as compression that would allow a simulator to run at above 100% speed. It also might not need to be 100% accurate -- we might find that running below that threshold still produces an output that is practically indistinguishable from the real events, yet allows it to run.
You could create a kind of "reverse" grandfather paradox by preventing future events predicted by the simulation from happening. Perhaps it could run fine up to the point that it has to simulate itself, then it would slow down to the point of becoming useless.
If the universe is based on some solid deterministic rules with a fixed seed value, then it would work.
Quantum events appear non-deterministic, but that might just be because we don't have all the answers right now.
However, interestingly, by scanning other universes you may find similar movies with slightly different plot turns.