Without a boot disk, Dreamcast games are region locked.
My comment was actually in regards to the Treamcast, which plays all regions out of the box, and has been the only semi successful alternative to the actual Dreamcast(Of course we all had boot disk for that one).
The region free aspect I believe was one of that devices(Treamcast) strongest selling points. Why in this day and age would you release a handheld based on old tech, and not be region free? I would think a company would like to sell any product in this day and age to the world, but who knows.
I guess Pandora 2 will have to meet my handheld Dreamcast needs.
Chris