PS3 games have region codes but they don't prevent us from playing those games on any PS3. But BD movies are a different story. Buy only your region's BD movies.
I have an EU PS3 and i can play Japanese "Heavenly sword" on it. If you don't have a HDTV then there can be a little issue with foreign games. They could be colourless.
That's how it was back in the day when i had SDTV. Now when i own HDTV i can enjoy the views of redhaired Nariko kicking bad guys asses.
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