So long as your car fits within the regulations stipulated by the challenge it doesn't matter how you get there, it's all about how you conduct yourself once on the circuit. If you feel that breaking out is a legitimate way to get "your name in lights", so to speak, then go for it - just don't expect any respect for doing so. I only ever compare my times with those of my friends anyway, the glitchers mean nothing to me.
I also wonder why this debate doesn't get brought up in relation to drift trials? The only car that populates the top of the board is generally the Speed 12, not well known it the real world for it's drifting prowess!
As for the power limiter, if I have a 296bhp Honda Integra and want to take it into the latest time trial, are you saying that I should remove something to make it ridiculously underpowered, or just move the the limiter 2 places backwards? I know which I, and pretty much every racing team in competitive motorsport, would rather do.