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NTSC compatable tvs come in two formats - NTSC 3.81 and NTSC 4.39 (the .81 and .39 may be slightly out, but deffinitely 3.something and 4.something).
3.81 will take the NTSC signal and display it perfectly on the screen.
4.39 will only show it in black and white.
However, if your tv doesn't work with the NTSC format you want (check the instruction manual), you can buy an adapter that changes an NTSC signal to a PAL one, it plugs in between the cube and tv.
You'll lose a little from the picture quality, but as i understand it, unless you're pretty an*l about all that, it shouldn't be a problem. Depending on your budget, i'd suggest buying one in the £30-40 region.
Hope that clears it up.
and if your TV is NTSC then it should work , as long as it's quite new then it should be ok , you could always check in the tv's manual to see if it's that 3.58 thing , or ring up the people that made it and ask them if it is. Fingers crossed ! When are you getting mario and resi ? I should get mine at the beggining of september :) :) :) :) ;) IM SO EXITED !