http://youtube.com/watch?v=0A-Iuriky58&feature=user
http://youtube.com/watch?v=6O-WuNZe6-k&feature=user (Racing the ghost)
The worldwide champ on Ghost Valley is... 00:50. These two videos show the game being hacked, apparently. Also, both videos contain character spoilers, but they're obvious characters. Apparently, this is the literal term for ghost.
My comment being WHAT THE FUUUUU******!?!?!?
I don't think he hacked, I just think there was a super major glitch.