From the GDC and from Joystiq:

During a Q&A session with media over lunch after yesterday’s GDC keynote, Sony’s Phil Harrison confirmed that PS3 software will be region free and that multiplayer gaming will also be free.

“It’s possible for developers to put all the TV formats – PAL, NTSC, HDTV, and so on – on the disc.” Can Sony bring the world together with games?

Finally a marketing decision that isn’t going against the interest of the players. That’s all I wanted to hear.

PS3, I will buy you.