*spank*
Don't believe them, Charlie. If you get 35 soldiers, 12 tissues and 5 custom sweepers, as well as the parasol and the Masamune, then you can get Sephiroth in your party. But the fun doesn't stop there; the simple fact of having Sephiroth in your party makes your life so much better. You will be more popular, you'll get better grades, and that irritating rash on your back will vanish. Literally hundreds of girls (or guys) will be flocking to your house, asking to see you play as Sephiroth. You will be one happy dude (or dudette), Charlie.
Ahhh, I just love tormenting rumor-mongers.