Cruise Control (usually CC) is a technique used in GoldenEye 007 and sometimes in Perfect Dark. It involves manually centring the analogue control stick on the N64 joypad by pressing L+R+START simultaneously, while the stick is held downwards. When the stick is released, the N64 registers that the stick is being pulled forwards. When you then start a mission (which is tricky, as your options-selecting cursor will be moving upwards constantly), you will (assuming you are using a 1.1-based control style) be constantly running forwards.
This does NOT enable you to run faster than usual. Pushing the control stick forwards does not give you "double speed", there is a maximum to how far the stick can be pushed and you've already hit it. What this does do is make playing flat speed levels where you NEVER slow down, such as Dam, much easier to play for long periods of time. It also somewhat smooths out the disadvantage that 1.1 players have over 1.2 players in that it takes longer for a 1.1 player to jump to full speed.
Wes called Wouter a cheater and a wimp for using it, claiming that he was too lazy to push the control stick himself. In reality, Wouter used Cruise Control to regain full speed that was lost due to a worn out controller. He still had to push the control stick to get the full speed out of it, still resulting in bumps on his thumb.
CC can be tried out in essentially any N64 game, but the results vary. It can sometimes be useful in 3D platform games when a control stick is worn out. It also works on the GameCube, as both shoulder buttons and both sticks are analogue and can be set up in a similar fashion, but again, results vary.