Available free on the PlayStation Store, the PlayStation Vita version of Phantasy Star Online 2 is technically region-locked. Because the console itself only supports a single PSN ID at any given time, the downloadable client must be accessed by a Japanese account. However, SEGA also released a physical copy of PSO2, and users have reported that this version allows them to connect to the game servers regardless of region.
It's a region-free console. 100% completely.
I know we will only get a digital version I bet if it even ever comes to NA on the Vita.
And the PSN version of EVERY game is "region locked" in the sense that you can only play it when using that region's PSN account.
The news it's letting you connect to the servers.
Not sure how much that would affect overseas, but in Japan it is common for people to get together and play this kind of game at McDonalds/Starbucks.
Also, it seems to work over 3g for free.