This is probably an important distinction for those who often import Japanese games.
According to a post in the publisher's forums , the upcoming 2D fighter Persona 4 Arena will be region-locked. In other words, the North American version will only work in North and South America.
The good news is that the Japanese and NA versions of the game will be identical, and both will feature the English and Japanese text and voiceovers. Of course, the region-lock also means the Japanese version will only work in Japan. As for the online servers, those will be global; you'll be able to play with anyone around the world regardless of your location. Nobody really knows why the PS3 iteration of the title in question is region-locked but…well, whatever. We'll get over it and move on somehow.
If you're unfamiliar, Persona 4 Arena is a spin-off of the popular and critically acclaimed role-playing franchise of the same name (just without the "Arena"). Obviously, it will appeal most to fans of the series, but I always wonder if hardcore RPG buffs are really that intrigued by a fighting game, even if it does boast their favorite characters…
Related Game(s): Persona 4 Arena