Blu-Ray is Blu-Ray. There are no PAL vs. NTSC Blu-Ray discs. Other than region coding, Blu-Rays use universal formats that can work with any HDTV.Also I don't quite understand the stuff about NTSC/Pal and such. Does it only apply to DVDs or to Bluray as well? I have some region 2 DVDs in PAL, will they play on Japanese players (NTSC, also region 2)?
One thing you may have to consider in acquiring a region-free player. You will need to be sure that it can convert PAL to NTSC so it will work with your local NTSC (for DVD purposes) TV. Some TVs are multi-standard but many are not. Not all region-free DVD players can do PAL to NTSC (or vice versa) conversion.