Net US games are also NTSC. He will NOT be able to play movies with just a mod chip. Japan is region 2 US is region 1. He will need something like an all region disc. I have a US V4R with a3.1 and it LOVES my import of Initial D Special Stage. Also i think i booted my friends copy of Dragonball GT once. Chip is a joy to use and very simple. Just single tap of reset for ps2 boot (if you really need to sometimes works with just insert if you get it on boot).
JAP 60GB PS3 (release date)
37000 L V7 Ocean Blue Matrix Infinity BB Navi (.32)
30001-R V4R Magic ICE 91f3+ PS2 Linux (2.4.1)
10000 V0 No Mod, PSP-1000 1.0 FW 100K release model
PS2 Linux Kit (BB Navigator Installed)
Scph-5501 Stealth, All Sega Systems
Cube with Save, Xbox 1.0 Modded