Okay, so the truth is much more confusing than what's been revealed. Basically the PS3 itself has a region code, the software/disc has a region code, and the Playstation Network account has an associated region. Developers are free to do whatever they want with any and all of those regions and there are no real guidelines. One thing to remember is that even "region-free" software will behave differently for different regions for things like languages, online servers, and whatever other odd restrictions that individual countries have. And because there are no guidelines you really can't know what the developers chose to base their region-encoding off. For one game it may be baed off your PS3 hardware so that any imported disc will work the same as a disc from your home country, but for another it could be based on the disc itself, and for yet another it could be your Playstation Network account. The best advice is buyer beware even on 1st party Sony games. Also I expect that more devs will choose PS3 region over disc region, so if you did manage to import a foreign PS3 into your home country than you should prepare for the likelihood that most things will behave as if you were in that foreign country regardless of where you buy your games from.