The whole region business is very weird, and though I have read detailed explanations of the mechanism, I still don't understand the experiences that users actually have with it.
As an experiment, I installed VLC player on a G4 Tower running 10.3.9. It would simply shut down if I tried to play a DVD other than the region to which the drive was set.
But, on my eMac, also 10.3.9, VLC player handles the Region 1 and 2 discs I've tried to play just fine though DVD Player balks at the "wrong" region. Why? Who knows!
You can buy region-free standalone players, and you can make your drive region-free by flashing the firmware. There's quite a bit of info about this on the web. Some users report this is an easy procedure with few hassles, some report it's a chancy operation that can actually ruin your drive.
Assuming you can track down hacked firmware for your particular drive and successfully flash it, you'll still need some means of switching the region of the drive as needed. There's an app called RegionX that will do this, but it has become a bit hard to find since its author "retired." Try:
http://www.ilovedvd.co.nz/dvddownloads.asp
Though I have the hacked firmware for my drive and even a little graphical interface for doing the actual flashing, and RegionX, I probably will remain too chicken to do this, at least as long as I can get VLC player to work region-free.