In Career mode complete the following challenges to unlock the corresponding effect. ALL the fighting style unlockables are random.

Unlock Fighting Style - Lethal Uppercuts:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Philly Shell:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Sinister Cross:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Slickster:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Hard Straights:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Hook Master:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Judge Jab:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Smooth:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Textbook:
Win matches in ESPN Classic Fights mode.

Unlock Fighting Style - Uptight:
Win matches in ESPN Classic Fights mode.

Unlock Arena - Madison Square Garden:
Win a match here to unlock the arena.

Unlock Arena - The Staples Center:
Win a match here to unlock the arena.

Unlock Boxer - Ko Rey Mo:
Defeat Rey in the Light Heavy Division.

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An easy way to gain stats quicker is by doing this:
1. Make sure your Fight Night Round 3 is on the autosave feature.
2. Do something so the game autosaves.
3. Sign a fight contract.
4. Choose your Fight Prep.
5. When the training screen comes up set it to AGRESSIVE.
6. Select your Stat Gain (Power, Balanced, Speed)
7. If your stats subtract, press HOME on your PSP and repeat steps 3-6

This usually gets your stats up by over 2 per gain, and if it does not work you can exit the game and retry it 'til it work =]

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