Alternate emblem backgrounds:
Highlight an emblem and enter the edit screen. Then, hold L1 + R1 and press Select.

Continue from Armored Core:
Successfully complete the original Armored Core and save the game. Load that game into Armored Core: Project Phantasma to start with your previously obtained parts and money.

Overweight override:
When you build your AC, you will notice that there is a weight limit on the selected legs. To override this, just finish the game so the overall % under system reads 100%. To do this, just complete every mission. Keep in mind that while you can load any leg type with whatever you want after you get 100%, your speed will decrease about 2 1/2 for every hundred pounds that you are overweight.

Edit pilot name:
Highlight the "A.C. Name Entry" option, hold Select, and press X.

Sword wave:
Draw your sword and press X (jump) just before the downslash. If done correctly, you will fire the fabled "wave" that all of the higher ranked ACs use. To fire the "blue wave of mass destruction", simply do this trick with the Moonlight blade. It can do over 1000 AP worth of damage.

Extra lock ons:
Equip your core with the laser sword and missiles. Begin game play and approach an enemy from a safe distance. Draw the sword and press Up, Down, R1, L1 to gain an extra lock on. Note: Up to six additional lock ons may be accumulated.

First person view:
Press Square + Triangle + Start. Game play will be paused. Press Start to resume game play with the new camera angle. Substitute Select in the code instead of Start for the Japanese version of the game.

Fixed camera view:
Press Circle + X + Start. Game play will be paused. Press Start to resume game play with the camera fixed at the present location. Substitute Select in the code instead of Start for the Japanese version of the game.