I can't give you the definitive answer about which non-compilation VGM album has the most tracks, but the Pokémon albums usually have a ridiculous amount of tracks on them.
270:
Nintendo DS Pokémon HeartGold & SoulSilver Music Super Complete, though it includes more games than just HeartGold & SoulSilver, so I'm not sure if you consider that a "compilation".
197:
Pokémon Complete Sound Set, though this includes Pokémon cries.
173:
Nintendo DS Pokémon Black & White Super Music Collection, which seems to be only music from Pokémon Black & White (though I don't actually know).
The
Bayonetta Original Soundtrack has 150 tracks and the
RAGNAROK Online Complete Soundtrack has 141.
Couldn't answer about longest run time
By the way, February 15th is my birthday XD