First, you should use "affect" instead of "effect". Effect is the noun, and affect is the verb. When A affects B, B is said to be under effect of A.
About your question. I have the same before buying the PS2. I search everywhere, ask many ppl, and the answer could be only something like NTSC games run at 60 FPS while PAL ones run at 50 FPS. Okay, here is all things that I have studied so far:
- Everyone knows NTSC games run at 60 FPS while PAL ones run at 50 FPS. But only few know that PAL has slightly higher resolution (576i) compared to NTSC (480i).
- In broadcasting, PAL's color is superior to NTSC's. But for console games, there's no difference in color. Tested it myself on both PS2 and PCSX2.
- Some NTSC version have exclusive features not available in PAL counterpart. For example, the NTSC version of many games support progressive scan mode but the PAL version doesn't (God of War I & II for examples). I do now know whether it is a technical difficulty or they're to lazy to do that, but USA and Japan are 2 countries produce mostly video games. There's no doubt the NTSC version has better supports.
- Some games originally targets the NTSC region, and then poorly converted to PAL. Final Fantasy X for example. The PAL version of FFX has 16:9 aspect ratio with 2 annoying big black borders on the top and bottom of the screen and all characters are fat (when you play FFX PAL on PCSX2 everything is normal, but if you play it on PS2, you'll see). The gameplay of FFX PAL is also slower than NTSC version, as if you set the frame limiter to 50 when playing FFX NTSC. Tested on both PS2 and PCSX2.
Conclusion: If both PAL and NTSC games are available in your country, get the NTSC. A little higher resolution does not worth the framerate penalty. Further more, with PCSX2 you can scale the resolution up to 6x. And the most important thing is that nearly all PC monitors today are 60 Hz, so if you'd better get the NTSC if you do not want to see something called "image tearing".
/to ShadowLady In my test the NTSC version of FFX ran about 5 FPS faster than PAL version on both PCSX2 0.9.7 and 0.9.8. For others games, maybe it is not the case.