At the title screen, press L1, R1, X(2), Triangle, R1(2), Triangle, Square, X, R1 to unlock all weapons. If you entered the code correctly, an exclamation point will appear at the top left corner of the screen.

At the title screen, press R1, R2, X, Left, Right, Square(4), L1, Square, Triangle, Circle to unlock all characters. If you entered the code correctly, an exclamation point will appear at the top left corner of the screen.