This is probably too late to help the enquirer but I’ll mention it in case other have the same question in future. There is NO DIFFERENCE when shooting HDV. Just be sure to use the appropriate frame rate (i.e., 25/50p in 50Hz countries).* However the NTSC model will not play or record PAL DV (I own the 110U and have tested this). Based on this, I assume the 110/111 PAL models will not play or record NTSC. In other words, if you will only use the camera for shooting HDV buying an NTSC model to use in Europe will not be a problem.
Incidentally, the Sony EX1 is 100% PAL/NTSC agnostic (again uses of appropriate frame rate is recommended.
*Video shot at 25p on the NTSC model outputs through component as 50p, i.e., as “PAL”, according to my Sony Luma. Therefor monitoring should not be an issue either.
Peter
JVC ProHD HD110U
17″ Sony Luma 720p monitor
Final Cut Studio 2
MacBook Pro Core Duo 2GHz, 2GB RAM