I just ran into a debugger by accident while i was playing the game in pSX (the permanent game saving doesn\'t seem to function in ePSXe).

Warning: The item will reset to the first amulet in the item list so do this with something you can afford to mess around with. 

Go to your inventory, click X while on an item and then hit your start key. Then use L1 and R1 to scale back and forth through the entire item list in the game.  To Keep an item drop it with X and then hit the Start Key. Otherwise the item reverts back to AMU01. Neat little leftover debugging tool.