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I recommend the Cyberhome CH-DVD 300 for playing PAL formatted discs in NTSC-land. It's readily available at Best Buy or Walmart either instore or online usually for $40 or less. I've had one for a few years and, although it's not my main player, it certainly does the job well for the price. It can be easily hacked to play any DVD regardless of it's region code and also properly sizes the aspect ratio of anamorphic widescreen PAL DVDs. I have even use it to convert PAL content to NTSC for my own DVD releases.
Just thought I'd share.