What is the code word too unlock all the heroes....

To get all of the heros, you press up,down,circle,up,down,square,left,right.

While flying when you're holding down the L1 button hold down the R1 button so that you use less metre while you fly. Also while running hold down the R1 button so that you can recharge while moving around.

When you get your opponent down to literally no health, press the R1 button and o button as if you're going to do the special grab. When you do the character will perform an awesome finishing move on the other character.

Go to vs mode and select lives...chose who you want to be and choose who you want the computer to be...Set both lives to one then select any level...then fight 10 times(just select rematch after you win or lose) this will unlock random characters and levels...(works most of the time)...i figured this out cause I was bored and I just kept on fighting and the next thing I know is it said "new character unlocked"

Unlock Wolverine's Card - HOWLETT

Unlock Fault Zone - Defeat Fault Zone in Storm's third mission ("Earthquake")

Unlock Human Torch - Defeat Altered Thing in Human Torch's third mission ("Old Friends")

Unlock Elektra - Beat Wolverine's third level on story mode