Easy free throws:
Tap Analog-stick Up multiple times at the free throw line to slow the shot indicator.

Change jersey number:
Remove a player from the roster, then re-select him as a free agent. Alternatively, press L or R when selecting a team's playing order.

Hint: No foul outs:
Press C-Down to intentionally foul out the bad players on your team until only five players remain. None of those players can foul out.

Glitch: Cheating CPU:
If you are winning around the 2 minute 50 second mark in the game, the CPU team will call a time-out -- but not do anything, just to get halfway down the court.