To get a good starting boost, press and hold A on the third siren (Fireball on 2nd).
To erase all data off your game, hold the L and R buttons as you turn on your GBA. A prompt will then ask for confirmation.
visit this site(and don't worry you don't need to download the translator:http://www.nintendo.co.jp/n08/afzj/vermil/index.html
at the bottom of the page is an area to input your F-Zero:max. vol. file name...
It will give you a password...open your F-Zero game,go to the grand prix vehicul select and press L, R, start, R, L, select...enter your password and voila! you get the Jet Vermillion!
Go to the rankings screen and hold L. Now press UP, RIGHT, RIGHT, B, LEFT, B, RIGHT A. The name of the track at the top will turn into a password. You can use this to enter a special Nintendo tournament (I'm not sure when it's held).
To unlock Championship mode, register your name on every track in the rankings.
To unlock Falcon MK-II, you have to beat Pawn, Knight, Bishop and Queen series on Expert difficulty.
To Unlock Fighting Comet, defeat every series on Master difficulty.
To unlock Queen series, you have to beat Pawn, Knight and Bishop series on Expert difficulty.
To unlock Silver Thunder, you have to beat the Queen series.
To unlock Sly Joker, beat the Pawn, Knight and Bishop series on Standard Difficulty.
To unlock Stingray, you have to beat Pawn, Knight and Bishop series on Expert difficulty.