Yes and No.

I Live in Canada but originate from the UK. When i try to play an English/European DVD (region 2) a pop up window appears prompting me to change from Region 1 (N.America) to Region 2.

All well and good except it also warns that you will only be able to change regions like this 4 times before you lose the ability to do that.

To sumarize ….you can view other regions but are limited to 4 region changes before you are locked out, i assume you are locked into the last Region you changed to.