Have you actually tried verifying that?
When I turn the option back on, it reverts back to the first weapon you received in the race, regardless of having picked up a new weapon with the option off.
Either I'm doing something wrong, or turning the option on and off doesn't work to change your weapon.
It's not very fun to get stuck with something like, the glove, for the whole race. It makes the game extremely tedious & boring, if you can't switch weapons for the entire race.
Also, when activated, the CPU has the unlimited weapons as well... which kind of defeats the purpose of the cheat.
yes, i a do it all the time
when i get rocket , i deactivate the cheat and fire that weapon to get rid of it, and when i get the ice , i activate it again
that will not work on the "all star move" i don't know why
and all the CPU will get unlimited weapons also