ALL PS3 games have region free playback on any console (Although multiplayer has been known to be region-locked on some titles. - IIRC, Resistance:FoM and Motorstorm are such examples.).
2. Play-asia say that the Asian (English) copies will reportedly work on "PAL" X360 consoles, but we haven't had confirmation yet. Also Play-asia has been known to mail Australian copies of 360 games.
3. The rumour that the 360 multiplayer is region-locked has thus far been confirmed to be false. Owners of NZ-bought 360 AND PS3 copies have had no trouble playing against overseas people located outside of Australasia.
3a. PS3 US (NTSC-U/C) copies have been confirmed to be playable online with locally bought copies. (source)
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