I admit, I never really played much Star Soldier, so I used a couple of shortcuts to help me along with the game.
For instance, if you go to the title screen
Grab Controller 1 and hit Select 10 times, then on Controller 2 hold Down and Right on the Cross Pad, then grab Controller 1 and start holding Up and Left on the Cross Pad and the A and B buttons. With all of those held, press Start on Controller 1 a couple of times (you might need a couple of extra hands for this).
Done right, your ship will be significantly powered up!
And those powerups will reset when you lose a life, so go nuts!