The game is out in the US tomorrow, you know. If you have an NTSC system, why in the world would you get the PAL version? Even if you're talking about obtaining an ISO.... just get the US version. Plus, I'm almost willing to bet that the PAL version will NOT work if forced to NTSC.
My previous assumption (2nd post) was incorrect. The PAL release (I got the GLoBAL scene release) definitely DOES!!! work with force NTSC via USB Loader GX. Haven't tried via disc-based backup launcher or any other usb loader, but with GX it works absolutely perfectly.
On another note, the game rocks yer socks. I was iffy about the motion controls, but they're great fun, and very responsive. And if you don't like them, you can use the remote sideways and it plays EXACTLY like 1989 NES Punch Out. I haven't tried the Balance Board yet, but I bet it's a blast in combination with the motion punching. I'll definitely be heading over to Videogame Exchange (my local indy game shop... screw GameStop) and buying the hell out of this later today.
The ONLY downside I've found so far is that the voice actor for Doc Louis (Mac's trainer) is pretty godawful. He's clearly reading all his lines directly from the page. You'd think that for such a major release, they would have at least made the guy take a minute to memorize each line before stepping up to the mic. Ah well... minor.
Simply region freeing a game will prevent your Wii from blocking you from playing an out of region title, but it won't change the game to the correct video mode (this does not apply to Wiiware). You need to force NTSC with your backup launcher of choice, or patch the game itself to NTSC.
And yes, it works when forced to NTSC on any tv/cable type, not just in PAL60 via compatible hdtv, as is often the case.