Fine shot adjustment:
Hold L2 while adjusting the shot direction to move the pointer more precisely.

Look around table:
Hold R1 while adjusting the shot direction.

Adjust camera angle:
Hold L1 while adjusting the shot direction.

Overhead view:
Hold Triangle while lining up a shot.

Backspin:
Hold Circle + Up or Down to put backspin on the ball.

Side spin:
Hold Circle + Left or Right to put side spin on the ball.

Change shot height:
Hold Square while lining up a shot. This also can be used to make illegal shots. For example, hit the ball very far past the middle to chip it or break very fast to hit a ball off the table.