Rocket Town Treasures (Disc 2) - FF7 Walkthrough
At basically any point during Disc 2 after you've acquired the Highwind you're able to return to Rocket Town and collect a Guard Source and a Fourth Bracelet accessory. After the Shinra Rocket takes off you'll be able to get Cid's Ultimate Weapon from Rocket town too - that's mentioned further down this page.
Guard Source: Found in the back of the Item Shop
Fourth Bracelet: Found in the back of the Weapon Shop
After Space Travel & Huge Materia Quest
Return to Rocket Town and speak with the old man by the Item Shop. Keep speaking to him until he gives you Cid's Ultimate Weapon, Venus Gospel - that's really all you have to do. Earlier in the game you could speak to him 3 times for a different weapon too.
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Return to Rocket Town, Cosmo Canyon, Forgotten Capital & Diamond Weapon (Disc 2) Walkthrough