Page 1 of X-Box as main player!

Serious question time peeps, thinking about getting an x-box, to replace my Philips 711, so the 711 can be re-homed upstairs, (also to use as an excuse to have a games console in the living room!!)
Two points, firstly, I`ve heard that the DVD playback is quite simply top notch. Opinions? Yeah or nay?
Secondly is there a region-x available yet for x-box, or are we still waiting?

Cheers for any (sensible) feedback on this guys, all appreciated.

http://electronics.cnet.com/electronics/0-6342366-8-9438076-1.html?tag=sd

Some related stuff at that link. Apparently DVD playback is very good