Hi Colin,
On your first point digital camcorders and dvd recorders record the picture information as either PAL (Europe) or NTSC (USA / Japan). You can sometimes buy multi region equipment (DVD) that will playback in either format. I am not aware of any available dv camera that offers multi region playback or record.
You are correct on the second point in that the region code is imposed on pre recorded DVDs so that Hollywood can stagger the release of movies to the home and overseas markets.
If you can live with your tapes or DVDs being in NTSC then think about repairs (you won't find anywhere over here that will look at it if it goes wrong). Another thing to consider is your tv / plasma will need to have the ability to display NTSC pictures.
If you want to share discs or tapes with family you will need to convert them to PAL to make sure they can be played on UK equipment.
Import tax, if you do buy a camcorder in USA you should declare it and pay the appropriate tax and VAT, or take a chance and get landed with a fine. Hope this info helps in your decision