Think we'll be able to trade guest item codes? As far as I see can figure, there's no way to limit the number of uses of the codes so even those who don't preorder can get the four guest items.
If entering the code in any way requires an online connection, then you're probably not going to be able to use it more than once.
ProTip: To damage your credibility, simply call any of the Phantasy Star games "massively-multiplayer."
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