What format are UMD movies stored on the discs in? Is it a proprietry format or just really big MP4s? If the latter, are the discs themselves region-coded or is it the video data?
Would be interesting if a homebrew app could playback UMDs from other regions... I've ended up with an out-of-zone Hellboy UMD, debating as to selling it or holding out in case it's possible ;)