Like most of you know, when you use a japanese game on an american gamecube with the network adaptor and pso all the text will be blocks and crap, i think this also happens with freeloader, is this an issue with japanese gamecubes playing american games? "i think not" . The PSP is said to be region free, but as the sony guy said "it will play games from anywhere, but the games will only be tested on the console sold in that area" so do you think it will be a problem playing japanese games on an american psp? or it will be ok? :-(
No way to know until a North American version of the UMD disc is released, so I would play it safe until someone confirms it. Add the fact that the PSP is going for a ridiculous ammount right now, and you have a pretty good reason to wait a few months.