Hi aljameson and welcome to our community
Yes, you can record once to accomplish this. Here's how you
could do it.
Before recording, you configure almost every conceivable
option. Click Options > Recording Options... > Edit
Settings... button next to the Recording Mode selector.
Make your recording.
When finished recording, either click File > Save As... or
select all slides and copy/paste to create essentially two
identical copies of your project.
Now strip away the Interactive bits from the first part. This
should leave behind a Demonstration. For the remaining bit, strip
away the interactive bits and turn off the mouse movement.
The end result should be that you now have a Demonstration
and a Simulation based off a single recording.
Hopefully this helps... Rick