Does PAL NTSC hardware option: Does it make a difference

I live in a PAL area but the version of WD TV Live being sold is the NTSC model. Does it make any difference if I buy the NTSC version?

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The software in the system has both. It is only used if you have a Standard Def TV because NTSC send out 480i and PAL is at a higher resolution of 576i. If you are using HDMI they will be using either 720 or 1080 depending on your TV.