The good news train keeps on chugging along for Sony. The company has confirmed that PS4 will be region-free. (Presumably, this covers games only, and not Blu-ray movies.)
In the current generation, PS3 was largely region-free, with the odd exception of Persona 4: Arena. Xbox 360 was not region-free, although it did have a large number of games that could work in multiple territories. Region-free gaming is desirable amongst hardcore gamers, as that enables importing games that sometimes do not get picked up for localization.
Although PS4 will be region-free, Xbox One will be region-locked. Microsoft blames "country-specific regulatory guidelines" that, for some reason, Sony seems to be exempt from.