You use the power slash and the item will float up to you.
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Like the PC/Mac edition, I'm pretty sure you can only get saddles in chests that spawn randomly in the world, such as dungeon chests, abandoned mine shaft chests, and stronghold chests.
Yes You can
In Okami there is a day every Hundred years called the day of Darkness when the moon completely covers the sun an at that day in the game you will face the evil Lord Yami.
Gimmows are joints or hinges
yes, it's used for controlling where you walk.